Bharat Forge's Unit Forms Joint Venture in Spain for Defense Products

MT Newswires Live03-27

Bharat Forge (NSE:BHARATFORG, BOM:500493) said its wholly owned unit, Kalyani Strategic Systems, signed a joint venture agreement with Spain's Duma Engineering Group to develop defense technologies, according to an Indian bourse filing on Thursday.

Kalyani Strategic Systems will hold a 90% stake in the joint venture, while Duma will own 10%, subject to conditions in the agreement, the filing said.

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