Amtek Auto hungry for global buyouts
Amtek Auto is not stopping after buying out JL French's forging and casting business in UK. NDTV has learnt that the company is planning a buyout in the US.
The company has about $500 million as an acquisition budget and it is looking at companies in Lowa, Detroit, Mexico border.
JL French's, Metaldyne's casting, forging business in the US could be potential targets. The acquisition could be through its US arms and the deal is expected to be completed within the next three months.
When contacted, the management did not deny the news but chose to be diplomatic instead.
"It's safe to say that we continue to be an inquisitive organisation, exploring strategic opportunities. If the right acquisition comes along then the money is available," said John Flintham, CEO&MD - Global Operations, Amtek Auto.
