Bharat Forge Ltd (BFL) has acquired Mecanique Générale Langroise, a French company, for €11.8 million (about ₹90 crore). The acquisition was made through CDP Bharat Forge GmbH, its wholly-owned subsidiary.

MGL is a technology-oriented company focused on precision machining and other high value-added processes such as cladding for critical application in the oil and gas industry. MGL supplies components for drilling applications, such as blow out preventers and surface/sub-sea well-heads, and the power sector. It primarily caters to premium global oil and gas customers, all of whom are already BFL’s customers.

“The MGL acquisition will help us move up the value chain in the industrial business,” Amit Kalyani, Executive Director, BFL, said.

While it is complementary to what BFL’s customers expect from suppliers, it will also help BFL consolidate its position in the oil and gas space by enhancing its service offerings and geographical reach, and bring it closer to its customers, he added.

This is also the first among many opportunities BFL is looking to tap in North America, the North Sea area and West Asia.

Bharat Forge has set a turnover target of $100 million in each of six verticals by 2020. It expects to reach the target for the oil and gas vertical in 2015-16.

Bharat FC Earlier today, the company unveiled its I-League football team Bharat FC and announced that Jalandhar-based apparel maker Nivia is the official kit partner for the 2014-15 season.

Bharat FC will debut at the forthcoming I-League season that kicks off on January 17.

Related Topics