Bharat Forge Limited has announced a definitive agreement to acquire AAM India Manufacturing Corporation Private Limited (AAMIMCPL), a subsidiary of American Axle & Manufacturing Holdings, Inc. (AAM), for an enterprise value of Rs. 5,445.30 million, pending customary closing adjustments and regulatory approvals.
Established in 2008, AAMIMCPL manufactures axles for light, medium, and heavy-duty commercial trucks and passenger buses in India. Through this acquisition, Bharat Forge will take over AAMIMCPL’s commercial vehicle axle business in Pune and Chennai, along with the Pune Engineering and Development Center. The transaction is subject to approval from the Competition Commission of India (CCI) and will be completed upon receiving the CCI’s clearance and meeting other customary conditions.
Bharat Forge’s Vice Chairman and Joint Managing Director, Amit Kalyani, highlighted the strategic value of the acquisition, stating that the addition of AAMIMCPL’s expertise will help expand Bharat Forge’s vehicle component business.
David C. Dauch, Chairman and CEO of AAM, noted that the sale allows AAM to concentrate on its global focus areas, including internal combustion engine (ICE), hybrid, and electric vehicle applications, while maintaining a collaborative transition with Bharat Forge to ensure supply continuity from the acquired facilities.