This acquisition increases MCIE's operations in the high growth Asian markets and reinforces CIE group's / MCIE's position as a leading global forgings player. BFPL's complementary product and customer mix leads to a significant diversification in the business portfolio of MCIE India.
Hemant Luthra, Chairman of MCIE, says "BFPL has a unique business combining complex products and brings many new customers to MCIE's current portfolio. The global alliance between CIE and M&M created excellent value for all stakeholders. This partnership bears the same hallmark of a mutual faith in each other and a common ambition based on excellent team chemistry. It reinforces CIE's commitment to India and the region and is a big step forward in creating both a global leader in forgings and a leader among Asian auto components firms."
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