Amtek Auto to Restructure
Amtek Group is going in for a major restructuring exercise as part of which it will consolidate all its Indian companies under the flagship company Amtek Auto. It will include Amtek India, Ahmednagar Forgings, Benda Amtek and Amtek Siccardi.
Simultaneously the international operations will also be restructured under its Netherlands-based holding company. Amtek's global operations include GWK Amtek, Triplex Ketlon, JL French Castings' Whitham plant, Zelter and Smith & Jones.The mangement consultant Ernest & Young will be the key adviser for the restructuring operation.
After the mergers the company's turnover is expected to go upto Rs 25 Billions. It will give the comapany leverage for large scale operational benefits & help reduce the manufacturing costs As for the overseas consolidation, the purpose is mostly tax benefits because Netherlands provides huge tax benifits
Amtek Auto is looking at several acquisitions both domestic & international. Company has recently acquired Amforge & Akiel castings in India.
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