Date:01/02/2005 URL: http://www.thehindubusinessline.com/2005/02/01/stories/2005020102310900.htm

Back Amtek India mulls buying UK-based auto components co

Our Bureau

New Delhi , Jan. 31

AMTEK India Ltd on Monday said that it is considering a plan to buy the UK-based Sigma Cast Group Ltd, which makes turbo chargers for automobiles.

The company's board will meet on February 7 to consider the plan, the New Delhi-based Amtek India said in a statement.

Sigma makes automobile casting components at a factory near Birmingham in the UK and is one of the largest suppliers of turbo charger components for automobiles in the world, the statement said.

This could be the third major overseas acquisition by the Amtek Group in recent years. Last year, another group company, Amtek Auto Ltd, had acquired 100 per cent equity stake in the UK-based GWK Group Ltd and prior to that, Amtek Auto had invested Rs 28 crore in buying out 100 per cent equity in New Smith Jones Inc, based in the US, which makes ring gears and flex plates.