Three days after Pune-based Bharat Forge acquired a German forging firm, another Indian company is set to pick up a forging unit abroad, this time in the UK.
Sundram Fasteners Ltd said on Monday that it had entered into a memorandum of understanding with Dana Spicer Europe Ltd on November 23, 2003, to purchase their precision forge unit at Cramlington, UK, as a going concern.
The MoU is subject to the parties completing outstanding matters.
Sundram officials refused to comment when contacted, and indicated that an elaborate statement would be made as soon as the deal was sewn up.
Cramlington Precision Forge is one of only three trade precision forge businesses in Europe capable of producing heavy-duty precision forged differential gears.
Its products include loose gears, other transmission components and equipment. The Northumberland-based company is also into design and metrology.
At Cramlington, gear teeth are finish forged, making them stronger, cheaper and lighter than cut components. The technology here also allows extra design features to be added to forged components to increase their strength.
The Cramlington unit's full product range consists of differential gears, dog-tooth clutches, hydraulic pump gears, power tool components, farm tractor differential gears, earth moving vehicle components, and passenger car coupling flanges and crown wheels.
Dana Spicer is part of the Automotive Aftermarket Group of the 100-year-old $10 billion dollar Dana Corporation based in Toledo, Ohio. The Automotive Aftermarket Group provides wide scope of under-the-hood and under-the-vehicle products for the global replacement parts market.
Dana Corporation is a global leader in the design, engineering, and manufacture of value-added products and systems for automotive, commercial, and off-highway vehicle manufacturers and their related aftermarkets.
The company employs around 60,000 people worldwide. Dana operates hundreds of technology, manufacturing, and customer service facilities in 30 countries.
