BHEL eyes forgings venture in Europe and China -Chairman

Bharat Heavy Electricals is mulling to pick up equity stake or even buy out forgings ventures in Eastern Europe and China.

The report quoted Mr K Ravi Kumar chairman & MD of BHEL as saying that the company was looking at a Romanian firm and others in East Europe. He also said that Chinese firms are also being looked at.

He further said that the company was also keeping its options open on the idea of picking up stake in the proposed Areva-Bharat Forge forgings venture.

Sources disclosed that the company would be dispatching a high level delegation next month to finalize a possible target in these regions. It added that by adopting this strategy, BHEL aims at blocking some capacity to tide over a shortage of forgings and casting being faced by the company.

(Sourced from myiris.com)


ref:
http://steelguru.com/news/index/2009/04/22/OTEzMDI%3D/BHEL_eyes_forgings_venture_in_Europe_and_China_-Chairman.html