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Our Bureau

Coimbatore, Feb. 22 Amtek Auto Ltd has entered into an MoU to set up a 50:50 joint venture with American Railcar Industries, a designer, manufacturer and marketer of a variety of railcars in North America.

The signing of MoU is part of the Amtek Auto’s strategy to diversify by setting up the company’s Amtek Transportations Systems division and this joint venture will be part of that new division which signals a major entry by Amtek into this market.

The transportation division, which includes railways, aerospace and surface transportation system, will complement its already automotive division.

Amtek is investigating other potential opportunities and acquisition for the transportation division both in the US and European markets. Amtek has planned an outlay of over Rs 500 crore for its railways business, which would include the joint venture with ARI.

Amtek is also planning to set up forgings, casting and machining facilities by itself to manufacture components for the railcar and other railway applications.

More Stories on : Alliances & Joint Ventures | Automobile Components

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