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JS Auto Cast acquires SEZ unit of Indo Shell Mold
Auto parts maker Bharat Forge has announced that its subsidiary JS Auto Cast Foundry India has acquired the special economic zone unit of Indo Shell Mold , based in SIPCOT, Erode, Tamil Nadu, for an undisclosed sum.
JS Auto Cast Foundry India has entered into a business transfer agreement with Indo Shell Mold Ltd for this purpose, Bharat Forge said in a statement.
"The acquisition strengthens JS Auto's presence in the foundry industry, expands its product offering and customer base, and strengthens its presence in the Indian manufacturing sector," it added.
The SEZ unit with a capacity of 42,000 MTPA will supply fully machined critical castings to prominent customers in the automotive industry and will serve as the third manufacturing unit for JS Auto, bringing the total capacity to 1,42,000 MTPA, the company said, adding that the acquisition will be Ego EPS increases from the first year.
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