MoneyWorks4Me analysed the past 10-year performance of Amtek Auto Ltd and arrived at the following conclusion:
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Data is not available for this company
Amtek Group was established with the incorporation of the flagship company, Amtek Auto in 1985. Since then, it has grown rapidly and emerged as a frontrunner in the global automotive component industry with a worldwide presence across North America, Europe, and Asia. Amtek's manufacturing capabilities include Iron and Aluminum Castings, Forgings, Complex Machining & Ring Gears Flywheel Assembly.
Amtek Auto manufactures components such as connecting
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.
Amtek Group is a leading international manufacturer of automotive components and assemblies with production facilities located strategically across North America, Europe & Asia. The Group's extensive manufacturing capabilities encompass Sub assemblies, Iron, Gravity & Aluminium Castings, Forgings, Complex Machining & Ring Gears Flywheel Assembly.
AAL entered into a joint venture with Benda Kogyo of Japan to form Benda Amtek in 1997 for manufacturing of flywheel ring gears located Gurgoan. Later, in 1999 the company entered a JV with Ateliers de Siccardi to form Amtek Siccardi for manufacturing crankshafts at Manesar. In 2001 the company acquired auto component manufacturing firm Wesman Halverscheidt Forgings. The same year it also acquired Indsil Auto components Coimbatore (India).
In 2002 the company established an iron casting facility at Bhiwadi. The same year AAL acquired 14.8% equity stake in Ahmednagar Forgings. The next year in 2003 the company acquired an additional 20% stake in Ahmednagar Forgings.
In 2006 the company formed 50:50 JV with Canada based Magna Power train to commence manufacturing facility for 2-piece flex plate assemblies for automotive applications. It also established a new manufacturing facility at Dharuhera (India) the same year.
In order to manufacture fractured connecting rod modules company entered JV with Magna Powertrain to form MPT Magna India.The company set up another manufacturing facility at Sanaswadi, Pune for forging, casting and machining in the year of 2007. The same year it acquired Triplex- Ketlon Group- which was amongst the largest automotive precision machining companies and it also had presence in UK.
In February 2008, the company formed 50:50 joint venture with American Railcar Industries in order to diversify by the setting up of the company's Amtek Transportations systems division. In June 2008 Amtek Transportation Systems became subsidiary of AAL
Amtek acquired Ahmednagar Forgings Limited (AFL) in order to establish a manufacturing business in Western India, as there were a number of automotive companies which were being supplied by AFL in that region. On 10 October 2002 the Company acquired 1,183,790 fully paid-up equity shares of Rs.10 each in AFL, representing 14.8 percent. Of its issued, subscribed and paid-up equity share capital, at a price of Rs. 34.50 per share from the promoters of AFL, their friends, relatives and associates. The Company also entered into an agreement with the promoters of AFL on 10 October 2002 to acquire from them an additional 2,457,660 fully paid equity shares of Rs. 10 each, representing 30.72 percent. Of the issued, subscribed and paid-up capital of AFL, at a price of Rs. 34.50 per share.
The Company is a Tier-1 vendor and is a OEM supplier to Maruti Suzuki, John Deere, TVS Suzuki, JCB, JBML, Case New Holland, GE, Hero Honda, Hindustan Motors, Mahindra & Mahindra, Tata Motors, Sanden Corp., LML Limited, Eicher Tractors, Honda Scooters, Yamaha motors, Bajaj Auto.
Different divisions of the company are:
Product range of the company includes:
Amtek product portfolio consists of an extensive range of components for 2-3 wheelers, Cars,Tractors, LCV, HCV and Stationary engines. The major categories of components manufactured are,
Amtek Auto recently won the best investor of the year award 2008 - UK Trade & Investment.
Adjudged â€˜Best Performing Vendorâ€™Technology group Machine Parts Maruti Suzuki (1994-95)
Won â€˜Supplier of the Yearâ€™ Award
Declared â€˜ET- Best Emerging Company of the Yearâ€™