Forward Manufacturing Company, India and Pernat Industrie, France sign MoU to leverage business opportunities across Defence and Automobile sector for India.
Chennai, June 3rd, 2024: Forward Manufacturing Company Pvt Ltd (Forward), an Indian Manufacturing company, and Pernat Industrie, France have signed an agreement to leverage the strengths and capabilities of both the organisations to collaborate as partners, to indigenously develop ,deploy emerging technologies, add new technical solutions to bring in “State of the Art”, cutting edge technologies to be manufactured in India, for use by various institutions of the Govt of India. This strategic JV is envisaged to give a boost to the ‘Atmanirbhar Bharat’ initiative and go a long way in realising the Government’s vision of a Make in India.
As part of this JV, Forward and Pernat would work together in partnership to bring in new and better technologies for Indian Automobile, Aerospace and Defence Sector.
Forward is India’s leading company specializing in CNC Precision Component Machining while Pernat, France is a company that has several years of experience and has top companies in its clientele. Pernat would bring its technology to India, manufacture few products along with Forward under “Make in India” and sell it for Automobile, Aerospace and Defence industry globally to India, Europe, and Rest of the world.
The transaction was structured by ALCOR Cross Border M&A (https://alcorib.com/), a leading investment banking firm based out of Pune, provide the ultimate platform for nurturing global companies and turning them into successful unicorns. The Forward- Pernat JV was established with an intent to leverage on growing Indo-French relations in defence and automobile sector.
Mr. Thomas Mathew, the Director of ALCOR quoted “This partnership with Pernat would propel huge technology advance for India, as India would receive the latest cutting-edge technologies in the field of machining for Aerospace through Pernat. Here technology is further optimized by combining “State of the Art” technologies with Indian manufacturing through this partnership with Forward. This will also help in creating a lot of jobs within India as the focus is to manufacture in India and provide the latest technologies to India. This collaboration will not just benefit India but would benefit many other companies globally as phenomenal value would be created globally.”
About Pernat (https://www.pernatindustrie.com/)
Pernat Industrie, established in 1922 and located in Marignier, France, is a prominent international group specializing in manufacturing mechanical parts and assemblies for the Automobile, Defence and Aerospace sector. They excel in high-precision machining, bar turning, surface treatment, and heat treatment, utilizing advanced single and multispindle machines.
About Forward Manufacturing Company (https://www.sharplinegroup.com/Forward.html)
Forward Manufacturing Company Pvt. Ltd. is an Indian firm specializing in CNC precision component machining. It operates under the Sharpline Group, a conglomerate involved in automation, machinery, and technical training solutions. Their clientele includes notable companies like Hindustan Aeronautics Limited, Tata Advanced Systems Limited, Larsen & Toubro Ltd and Godrej and Boyce Limited. They have experience machining over 500 different types of structural and aero-engine components using materials like titanium, Inconel, magnesium, stainless steel, and high-strength alloy steel.
Forward is also putting in its best efforts to ensure that it is in sync with the Government’s larger goal of indigenisation and self-reliance by engaging in collaborative R&D, augmenting its own R&D set up, outsourcing work to Indian private industries and MSMEs, and going in for Public-Private partnerships to execute turnkey projects.