Balu Forge Industries Limited (BFIL), a prominent precision engineering company engaged in manufacturing of crankshafts & forged components, is pleased to announce the successful acquisition of three forging lines in a combination of Hammers & Presses capable of producing 72,000 tonnes p.a. of heavy forged products. These newly acquired forging lines will seamlessly integrate with the precision engineering expansion taking place at our upcoming manufacturing campus in Belagavi, Karnataka thereby making BFIL an integrated one stop solution provider for advanced machining solutions for critical industries viz. Railways, Defence, Oil & Gas, Mining, Aerospace, Defence, Aluminium & other critical precision industries globally.
Commenting on the announcement, Mr Trimaan Chandock, Executive Director of BFIL stated : “I am delighted to share with one each of you that we have successfully concluded this expansion which open new doors for us in critical & precision engineering space.
This superlative acquisition also provides level playing footing with all global majors in critical engineering product space & equally compete with them at global level in terms of precision, product & pricing.
These recent three acquisitions are not only value accretive in terms of business financials but also a start of the new chapter for Balu Forge Industries Ltd. These newly acquired production lines fantastically complements the existing precision machining capacity of 32,000 tons, positioning BFIL as a fully integrated company.
This strategic integration of precision/special engineering and forging will not only bring margin enhancement, but increased R & D capability addressing end-to-end needs & solutions for a substantial global clientele. Apart from the manufacturing prowess, the new facility once commercialized, will create large scale employment opportunities in the area and empower local societies around the plant. The team strength is expected to reach to 1,000+ employees (including contracted workforce) growing continuously from 375 in FY23 to 525 currently I would especially like to mention that all these acquisitions would not have been possible without my team members at BFIL. I am really thankful to each one at BFIL. I am sure we shall continue to take more such strategic initiatives which will be in line with our vison & business plan, incremental to BIFL’s Growth.