October 23, 2024
Bharat Forge Limited (BFL) has reached a definitive agreement to acquire the commercial vehicle axle business of American Axle & Manufacturing Holdings, Inc. (AAM) in India for $65 million. The sale includes AAM India Manufacturing Corporation Pvt. Ltd. (AAMIMCPL) and is subject to customary closing conditions, including regulatory approvals. The transaction is expected to close […]
October 23, 2024
Ambuja Cements, a subsidiary of the Adani Group, has announced a binding agreement to acquire a 46.8% stake in Orient Cement Ltd (OCL) for an equity value of INR 8,100 crore. The acquisition will be fully funded through internal accruals, and the deal aims to accelerate Ambuja’s expansion plans to achieve a cement production capacity […]
October 21, 2024
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 […]
October 15, 2024
Shree Cement’s Quality Control Laboratory at its Ras facility in Rajasthan has been accredited by the National Accreditation Board for Testing and Calibration Laboratories (NABL). The certification confirms the lab’s compliance with ISO/IEC 17025:2017 standards, which are recognized internationally for testing and calibration services. Neeraj Akhoury, Managing Director of Shree Cement, commented on the accreditation, […]
October 15, 2024
The 8th edition of the International Telecommunication Union – World Telecommunication Standardization Assembly (ITU-WTSA) was inaugurated by Prime Minister Narendra Modi in New Delhi on October 15. The event, held at Bharat Mandapam, marks the first time the assembly has been hosted in India and the Asia-Pacific region. The ITU-WTSA is a global forum that […]
October 15, 2024
Safran Data Systems has expanded its operations in India with the opening of a new facility in Chennai. The facility is part of the company’s broader effort to enhance its presence in the country’s aerospace and defense sectors, specifically in telemetry, tracking, and communications solutions. The newly inaugurated facility is expected to bolster local capabilities […]
October 13, 2024
The US and India have agreed to collaborate on establishing a semiconductor fabrication facility in India, as part of an ongoing effort to strengthen the country’s manufacturing sector. The plant will focus on producing infrared, gallium nitride, and silicon-carbide semiconductors. This development follows a meeting between US President Joe Biden and Indian Prime Minister Narendra […]
October 10, 2024
Lloyds Engineering Works Limited (LEWL) has signed a Memorandum of Understanding (MoU) to acquire the engineering division of Bhilai Engineering Corporation Ltd. (BECL). The acquisition aims to expand LEWL’s production capabilities, integrating BECL’s operations with its existing manufacturing infrastructure. The BECL engineering division, founded in 1960, specializes in providing engineering solutions across sectors like metallurgy, […]
October 10, 2024
The Cabinet Committee on Security has cleared two major defense procurement deals for the Indian Navy, totaling Rs 45,000 crore. These agreements include the indigenous construction of two nuclear-powered attack submarines and the acquisition of 31 Predator drones from the United States. The submarines will be built at the Ship Building Centre in Visakhapatnam, with […]
October 9, 2024
The Indian Navy has received Nirdeshak, the second of four planned Survey Vessels (Large), from Garden Reach Shipbuilders & Engineers (GRSE) on October 8, 2024. The vessel, built in Kolkata, is part of a contract signed on October 30, 2018, for the construction of four survey ships. The first vessel in the class, INS Sandhayak, […]
