Amtek signs tech JV with Belgian co

THE Rs 671-crore component major, Amtek Auto, has signed its third global joint venture as part of its strategy to acquire technology for the next generation of engines and components. The group has forged a 50:50 joint venture with Belgian gear manufacturer VCST. The € 200-million gear major makes high-precision gears and will offer Amtek “both forward integration on the existing forging business in India and increase valued addition in gears”, said Amtek Worldwide CEO John Flintham. The JV will put up a separate plant close to Amtek’s Pune site with “significant investments from both partners.” added Mr Flintham. The first two projects are export projects to the US and Korea and the new plant will supply gears both for the domestic market as well as for exports. The 50:50 JV between Amtek and VCST, which will exist under the name of Amtek VCST Powertrain, will be setup near Amtek’s cluster of manufacturing plants in Sanaswadi near Pune.

Courtesy: EconomicTimes
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