Bharat Forge on Thursday, March 6, said its wholly-owned subsidiary Kalyani Powertrain entered into a technology licensing agreement with Taiwan’s Compal Electronics to manufacture X86 platform servers in India.
The two companies have signed a Memorandum of Understanding (MoU) to develop the server business using locally-manufactured solutions in India. Compal will provide Kalyani Powertrain with technological support related to servers, including overseeing local production, assembly, testing activities and final sales, the company said in an exchange filing.
“This association will give a strong impetus to India’s manufacturing competitiveness,” Amit Kalyani, the vice-chairman and joint MD of Bharat Forge, said.
Compal CEO Tony Bonadero said Kalyani Powertrain’s extensive experience in the Indian market will create synergistic effects in the collaboration. “We look forward to this being just the beginning, with more ICT-related business opportunities in the future to create greater value together,” he said.
Bharat Forge shares were trading 1.1% higher at ₹1,068.75 apiece at 11.35 am on Thursday, March 6. The stock has declined 17.78% this year, so far.
Content retrieved from: https://www.cnbctv18.com/market/bharat-forge-share-price-arm-partners-taiwan-company-manufacture-servers-india-19569444.htm.
