Amtek Auto forms JV with Canadian firm
Auto components maker Amtek Auto Ltd said it has forged a joint venture with Canada’s Magna Powertrain for setting up a manufacturing facility outside Delhi.
The manufacturing facility would be set up for 2-Piece Flex Plate Assemblies for automotive applications, Amtek Auto informed the Bombay Stock Exchange.
Both the companies would hold a 50 per cent stake in the JV, which would initially export FlexPlate Assemblies to European markets, with production to follow for the Indian market.
FlexPlate Assemblies are used in automobiles with automatic transmission systems.
Amtek Auto said the JV, which is expected to commence operations in late 2007, expanded on the company’s existing relationship as a supplier of ring gears to Magna Powertrains North American operations.
The JV represents a step forward in the expansion of its customer base and product portfolio as well as its technological capabilities.
Magna Powertrain, an operating unit of Magna International Inc, designs, develops, manufactures and supplies powertrain and drivetrain products (and related devices) such as transaxies, gear boxes, transfer cases and a wide variety of engine and transmission components for the global automotive industry.
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