India's El Forge buys UK's Shakespeare Forgings

Newswire

BOMBAY, May 23 (Reuters) - Indian auto components maker El Forge Ltd. told the Bombay stock exchange on Monday its board had approved the acquisition of a majority stake in Britain's Shakespeare Forgings Ltd. Birmingham-based Shakespeare Forgings had revenues of 4.5 million pounds in 2004, the notice said. "Apart from giving a ready access to the UK market, the company's management believes ... the turnover from this platform can be significantly enhanced in the coming years," it said. ...

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