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.
Amtek Auto, FormTech Industries Announce JV
August 25, 2008