Amtek Auto has signed and executed Share Purchase Agreement (SPA) with Nippon Steel and Sumitomo Metal Corporation (NSSMC) to sell all equity shares and preference shares held by the company in its Joint Venture Company, SMI Amtek Crankshaft (SMI) to NSSMC.
Consequent to the approval of the resolution plan of Amtek Auto by the National Company Law Tribunal and on the coming into the effect of sale of the company’s 50% stake in accordance with terms of SPA, SMI Amtek Crankshafts shall cease to be Joint Venture Company of Amtek Auto.
Amtek Auto manufactures components such as connecting rod assemblies, flywheel ring gears and assembly, steering knuckles, suspension and steering srms, CV joints, crankshaft assemblies and torque links. It is backed by in-house design and development facilities engaged in developing new product and processes.
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