Amtek Auto, Sumitomo Metals Form JV
India’s Amtek Auto and Japan’s Sumitomo Metals signed a joint venture agreement for the production and sale of forged crankshafts for automotive applications in India. The joint venture will be formed with a 50% investment by Amtek, 40% investment by Sumitomo Metals and 10% investment by Sumitomo Corp., which is the global partner of Sumitomo Metals’ crankshaft business. Amtek will contribute its existing local market and manufacturing experience to the joint venture, and Sumitomo Metals will bring its crankshaft forging technology. Sumitomo Metals will now have production systems in the United States, China and India in addition to Japan.