BFL looking for acquisitions to expand globally

New Delhi, June 18 (UNI) Bharat Forge Ltd (BFL), the flagship company of the 1.5 billion dollar Kalyani Group, is planning for major acquisitions to expand itself globally.

''We are following a strategy to achieve global leadership, partly through expansion and partly through acquisitions,'' an India Brand Equity Foundation (IBEF) journal quoted BFL Chairman and Managing Director Baba Kalyani as saying.

To serve customers better across geographies, capacities need to be spread across the globe, Mr Kalyani said .

BFL is targeting a consolidated turnover of one billion dollar by 2008 which can be achieved by leveraging existing relationships with global automobile companies and their Tier I suppliers to become a development partner, he said.

World's second largest forgings manufacturer, BFL, derives 64 per cent of its consolidated revenues of around 445 million dollars from the international markets.

BFL has spent nearly 120 million dollars since 2000 in acquiring companies in the UK, US and Germany.

Mr Kalyani also said the company was planning to set up technology development centres in Europe and the US, while using its production base in India for lower-cost output.

BFL is a 'Full Service Supplier' of engine and chassis components. It is the largest exporter of auto components from India and leading chassis component manufacturer in the world.

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