Alliance Integrated Metaliks to sell 5% equity stake of ARGL, ACIL

Alliance Integrated Metaliks has received an approval to sell 5% equity stake of total paid up equity share capital of its subsidiary companies, ARGL (formerly known as Amtek Ring Gears) and ACIL (formerly known as Amtek Crankshafts (India)). Consequent to the above sale of equity stake, ARGL and ACIL will cease to be the subsidiary companies of Alliance Integrated Metaliks. The board of director at its meeting held on September 28, 2013 has approved for the same.

Alliance Integrated Metaliks is engaged in the manufacturing of steel with its concentration in manufacturing specialty steel and alloy products catering primarily to automobile applications and also for Industrial, Engineering Applications to a limited extend.