Amtek, which started operations out of Sohna in Haryana in 1987, supplies vital components to a host of global and local auto components, totalling at least 52 major brands across the world, including Aston Martin and all. Amtek's components, ranging from cylinder bocks to transmission heads to gear shifters, can also be found in sporty Jaguars and BMWs on Germany's Auto Bahn. And of course in India's favourite, Maruti Suzuki.
... Amtek has been chasing growth aggressively-revenues were up 62 per cent for the June quarter-organically and inorganically, back home and overseas. Recently Amtek acquired Akiel Castings in Pune and Amforge's con-rod division in Delhi. Global operations pitched in with 53 per cent in the June quarter; the figure was even higher in the March quarter, at almost 55 per cent. Next stop? "Mexico and East Europe," says Arvind Dham, Chairman and Managing Director, Amtek Group.
Recently Amtek had reportedly emerged as the highest bidder for JL French Automotive Castings Inc.'s Whitham plant in Essex in the UK, pipping Swraj Paul's Caparo Group. A final announcement in this regard is expected soon. Amtek is also said to be eyeing a machine component unit abroad for about $250 million (Rs 1,175 crore). It could also acquire a casting firm for about $20-25 million. Cash isn't a constraint. Amtek had mopped up $250 million (Rs 1,125 crore) through five-year convertible bonds in May and has cash reserves of another $100 million (Rs 450 crore).
Arun Natarajan is the Founder of Venture Intelligence, which tracks private equity and venture capital in India and Indian-founded companies worldwide. View sample issues of Venture Intelligence India newsletters and reports.