Amtek Auto, India’s second-largest auto-components maker, has announced signing a joint venture (JV) agreement with U.S.-based forged-metal-components maker FormTech Industries to set up a manufacturing facility for hot forgings used for automotive applications in India and Europe. Amtek will hold 51% in the JV, while FormTech would hold the balance. The company expects the facility to be fully operational in 12-18 months.
FormTech, based in Royal Oak, Mich., produces and supplies precision hot-, warm- and cold-forging components and provides forged-metal components to the North American automotive light-vehicle, heavy-truck and industrial markets. Amtek was established in 1985 and manufactures iron and aluminum castings, forgings, steering knuckles, CV joints, crankshaft assemblies and torque links.