Balu Forge Industries Ltd (BFIL) , a prominent precision engineering company engaged in manufacturing of crankshafts & forged components, has announced the successful acquisition of 7 Axis CNC machines. The major focus area for this acquisition is move into a more elite category of machining companies that are capable of offering both advanced & critical machining solutions specific to industries like Railways, Defence, Aerospace & other critical precision industries globally.
BFILis pleased to announce its recent acquisition of CNC Machines capable of 7 Axis machining which is suitable for more critical offerings in a spectrum of industries with specific focus areas of Aerospace, Defence & Railways.
The new acquisition will enhance the capability of the company to offer more precision engineered components & further increase the product portfolio in these key industries.
This new acquisition consists of 7 Axis CNC machines from a prominent German manufacturer. These possess the capability to machine parts up to 3 Meters in length.
The machines will provide us a unique strength in creating high precision products from different alloys based of Aluminum to Titanium.
The company will further expand its product portfolio into high precision & critical components namely in the areas as under:
Aerospace: Turbine components, aircraft frames, engine components and landing gear components;
Defence: Weapon system components and vehicle parts;
Railways: Locomotive parts, frame structures and track components;
Oil & Gas: Valve Bodies and pump components.
The introduction of this technology will aid in machining complex geometries, improve precision, increase flexibility, lead to better material utilization & aid in the ability to machine complex products in one setup.
Commenting on the announcement, Trimaan Chandock, Executive Director of BFIL stated "We are pleased to share with all our stakeholders that your company has entered a very niche area of precision machining where only a handful of companies exist globally.
This acquisition is a testament to our larger strategy of moving away from being a pure forging player to a precision engineering company where we stay true to our strategy towards supply of only value added/fully machined parts to our patrons globally.
The recent acquisition will also be an enabler to strengthen the presence in more critical engineering areas of aerospace & Defence. We have maintained the strategy which was envisioned many decades ago of being a precision engineering company & only offering highly critical solutions for niche industries. Our strategy will continue to stay in line with our overall vision to propel the company to the next chapter of growth."
Shares of Balu Forge Industries Ltd was last trading in BSE at Rs. 799.10 as compared to the previous close of Rs. 731.30. The total number of shares traded during the day was 267582 in over 11013 trades.
The stock hit an intraday high of Rs. 814.00 and intraday low of 730.35. The net turnover during the day was Rs. 207341755.00. |
