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Home arrow Business News arrow Bharat Forge and David Brown Systems form JV for gearboxes
Bharat Forge and David Brown Systems form JV for gearboxes Print E-mail
Written by Vivek   
Tuesday, 10 May 2011
Pune: BF Infrastructure Ventures Limited (BFIVL), a wholly owned subsidiary of Bharat Forge Ltd, has signed a Shareholders Agreement with David Brown System India (Holdings) Limited, part of David Brown Group, a leading global manufacturer of gearing products and services to form a JV Company in India. The Companies will have a 50:50 equity partnership in the JV.

David Brown Bharat Forge Gear Systems India Limited, the JV Company, will initially be operational from Bharat Forge's current facilities. By the middle of 2012, the company will have a dedicated site for gear box assembly and testing.

The JV Company also plans to set-up two service centres in Bangalore and Kolkata by the end of 2011. Additional locations for service centres in Delhi and Hyderabad are being planned by the end of 2013. These service centres will be designed to world class standards, providing rapid aftermarket service and support to key industries.

The company will serve the Indian heavy engineering industry, supplying both new build gearboxes and comprehensive aftermarket services to high growth, high demand sectors including power, mining, defence, wind, rail and steel. The JV Company will serve the Indian Conventional Power, Wind, Rail, Cement, Metals, Rubber, Mining, Hydro, Defence and Aftermarket industries initially.

"Aligned with the Kalyani group's strategy to diversify into non-auto business sectors and also to enter into equipment manufacturing this joint venture is one more step in the direction of reiterating our strong commitment to providing world class technology to the fastest growing core infrastructure market in India," said B N Kalyani, Chairman and  Managing Director of Bharat Forge Ltd. Bharat Forge has manufacturing operations across 11 locations and 5 countries - 4 in India, 3 in Germany, one each in Sweden, USA and 2 in China.

"We recognise India is a high growth territory for gearing products and services and so we are delighted to have found such a well-respected and prominent partner in BFIVL. This joint venture enables us to develop these high demand & growing industries by providing customer proximity through a local network.," said Jim McColl OBE, Chairman of David Brown.

David Brown is part of the Clyde Blowers portfolio (GBP 1.2 billion). As a leading manufacturer of gear products & services, David Brown has been providing engineering expertise to a range of global industries for more than 150 years.

The Shareholders Agreement was signed by Mr. Jim McColl OBE, Chairman of David Brown and Mr. Subodh Tandale, Authorised Signatory & Director, Bharat Forge. Extending the scope of the JV Company will be considered in the future.

 
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