Mumbai: Auto component maker Bharat Forge has started commercial operations of forging press facility at Pune unit.
“The state-of-art 4,000 tonne open die press will forge ingots ranging up to 70 tonnes at its Mundhwa facility in Pune,” Bharat Forge said in a filing to the Bombay Stock Exchange.
“It marks a very significant step that we have taken into a new area of business- manufacturing of critical components for the non-automotive sector,” Bharat Forge Chairman and Managing Director B N Kalyani said.
“The facility would primarily cater to the wind energy, oil and gas, steel, gear, cement ship building, pressure vessel, petrochemical and sugar industry,” the filing added.
Forging press is a process used to form metal into large quantities of identical parts. It is often used in the manufacturing process of automobiles and to improve the properties of the metal being used.
The company said it is aiming at attaining a global leadership position in the non-automotive sectors also.
“To support this goal, we have made substantial investment both in terms of capacity and capability creation as well as backward integration,” Kalyani added.
Shares of Bharat Forge were trading at Rs274, up by 2.79% in the afternoon trade on the BSE.