No more global acquisitions for Bharat Forge, says Kalyani
Hannover, Apr 24 (UNI) Having done six worldwide acquisitions in the last 18 months, Mr Baba N Kalyani, Chairman and Managing Director of Bharat Forge Ltd said today he would put a stop to his buy-out spree, for now and would consolidate his business in fiscal 2006.
''There is enough on our plate. There are issues of people integration, strategy integration and business integration,'' Mr Kalyani told reporters here on the sidelines of the Hannover Fair, 2006 in which India is the partner country.
Bharat Forge's acquisition in Germany has produced exceedingly good results. The company which has spearheaded the image makeover for India all around the world. ''We had acquired this company with a revenue base of 100 million Euros. In less than two years, the revenue of our German acquisition has gone up to 150 million Euros,'' Mr Kalyani said.
He said the business model from India is no more based on cheap labour, but it is based on the fact that India has a comparative advantage with brain power. Besides, India and China and other emerging economies would, none of the countries in North America and Europe have competitive advantage.
UNI PC SS HT2020