Bharat Forge America, Inc., a wholly-owned subsidiary of Bharat Forge Limited, will invest approximately US$56 million initially to set up a new plant in the US. The company will construct a green-field forging and machining facility in North Carolina.
The company aims to make a similar investment in the coming years to enhance the production capacity of the plant.
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The new plant will address the aluminium opportunity and have state of the art technology and processes, Bharat Forge said in a statement. The investment is backed up by orders already secured from OEM’s and has been achieved by leveraging R&D capabilities.
“As the order book ramps up in the years ahead, we envisage enhancing the capacity through an investment of similar quantum in the coming years. This investment is a key cornerstone of our strategy of enhancing our focus on lightweight materials and improving the financial parameters of the overseas operations,” Bharat Forge said.
“It will help us to create a strong global manufacturing footprint as part of our Aluminium strategy, spanning Europe, Asia and the United States.”
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