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Bharat Forge to acquire AAM India for ₹5.44 billion 
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Bharat Forge to acquire AAM India for ₹5.44 billion 

By October 18, 2024 12:14 pm IST

The acquisition will include the commercial vehicle axle business in Pune and Chennai, along with the Pune Engineering and Development Centre. 

Bharat Forge Limited has agreed to acquire AAM India Manufacturing Corporation Private Limited, a subsidiary of American Axle & Manufacturing Holdings, Inc., at an enterprise value of ₹ 5,445.30 million, subject to closing adjustments.

AAMIMCPL, a leading manufacturer of axles for commercial trucks and buses in India, will acquire the commercial vehicle axle business in Pune and Chennai, along with the Pune Engineering and Development Centre, in a transaction established in 2008. The transaction is subject to approval from the Competition Commission of India (CCI) and will close only after receiving the CCI’s approval and upon fulfilment of other customary closing conditions.

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 Amit Kalyani, Vice Chairman & Jt. Managing Director, Bharat Forge Limited, said, “We are delighted to welcome the AAMIMCPL team to the Bharat Forge family. We look forward to relying on their technical expertise and existing relationships with various industry players to further scale up the business over the medium to long term.

AAMIMCPL’s acquisition, when completed, will be a significant milestone in our transformational journey of adding product solutions to our repertoire on the vehicle component side. This transaction will enable BFL to get into a new business for the manufacturing of products.”

“The strategic decision to sell our commercial vehicle axle business in India enables us to strengthen our focus on ICE, hybrid and full electric passenger vehicle, pickup truck/SUV, and van applications globally and provides additional financial flexibility,” said David C. Dauch, AAM Chairman and Chief Executive Officer. “We are committed to collaborating with Bharat Forge to execute this agreement efficiently and support the continuity of supply from these facilities to customers during the ownership transition.”

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