Pune: Bharat Forge Limited has officially announced its entry into a definitive agreement to acquire AAM India Manufacturing Corporation Private Limited.
AAMIMCPL, a subsidiary of American Axle & Manufacturing Holdings, Inc. (AAM), specializes in manufacturing axle products for light, medium, and heavy-duty commercial trucks and passenger buses. The acquisition is valued at ₹5,445.30 million, subject to final closing adjustments.
Established in 2008, AAMIMCPL is recognized as a leading axle manufacturer in India. As part of the acquisition, Bharat Forge will take over AAMIMCPL's commercial vehicle axle business in Pune and Chennai, including its Engineering and Development Center in Pune.
The transaction is contingent upon receiving approval from the Competition Commission of India (CCI) and fulfilling other customary closing conditions.
Amit Kalyani, Vice Chairman and Joint Managing Director of Bharat Forge Limited, expressed enthusiasm about the acquisition, stating, “We are excited to welcome the AAMIMCPL team to the Bharat Forge family.
We look forward to leveraging their technical expertise and industry connections to scale up our operations over the medium to long term. This acquisition is a significant step in our transformative journey, expanding our product solutions in the vehicle component sector.”
David C. Dauch, Chairman and CEO of AAM, commented on the strategic implications of the sale, stating, “Divesting our commercial vehicle axle business in India allows us to focus more intently on ICE, hybrid, and fully electric vehicles, as well as pickups, SUVs, and vans globally, while enhancing our financial flexibility.
We are committed to collaborating with Bharat Forge to ensure an efficient transition and continuity of supply during this ownership change.”
