Autoparts Billionaire Kalyani Seeks Growth in Aerospace
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Bharat Forge Ltd., India’s second-biggest autoparts maker, is seeking approvals from agencies in Europe and North America to sell components for the aerospace industry as it looks to protect itself against cyclical slumps in the automobile sector.
The company, controlled by billionaire Baba Kalyani, has applied for technical permits, Chief Financial Officer Sanjeev Joglekar said. It expects to start manufacturing the parts “two to three years down the line,” he said.