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Home arrow News arrow Alliances and Joint Ventures arrow Amtek Auto Ltd enters into Joint Venture with FormTech Industries LLC
Amtek Auto Ltd enters into Joint Venture with FormTech Industries LLC Print E-mail
Written by Ganesh, Joseph   
Tuesday, 19 August 2008
Mumbai: Amtek Auto Limited and FormTech Industries based in Royal Oak, Michigan, signed a JV agreement to set up a state of the art manufacturing facility for manufacturing Hatebur Hot Forgings for automotive applications in India and Europe. Amtek and FormTech will take 51% & 49% stake respectively.

FormTech is a leading manufacturer and supplier of precision hot, warm and cold forging components. It has the highest concentration of Hatebur Hot Forging machines in the world and is the largest independent automotive forgings suppliers in the USA.

Its mission is to build upon product expertise, process technology and market leadership to deliver value-added components and assemblies to automotive customers around the world.

The new JV facility is scheduled to be fully operational in about 12 to 18 months.

Being the world leader in Hatebur Hot Forgings manufacturing, FormTech will bring its state-of-the-art forging design and process technology to the JV. The Joint Venture will be another product diversification for Amtek and also comes as a backward integration, as it is already one of the largest manufacturers of fully machined forgings for various applications.

This Joint Venture will be another milestone for the Amtek Auto Limited and will complement the company’s already significant forging division whilst also a step forward in direction of expanding its customer and product portfolio as well as attaining world class technological edge in automotive component manufacturing.

 
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