Bharat Forge shows interest in buying auto components manufacturer Amtek Auto
Bharat Forge Limited has shown interest in buying Amtek Auto. The company announced that it has participated in the process of acquiring Amtek Auto.
Amtek Auto manufactures auto components through a casting machining phases of manufacturing process. The company has the expertise in manufacturing aluminium die casting.
Amit B Kalyani, Executive Director of Bharat Forge, told FE that “We are definitely looking at the company. However, we have not yet submitted any bid.”
Commenting on the acquisition, Bharat Forge stated, “We would like to clarify that, from time to time, the company explores various opportunities on an ongoing basis. As regards Amtek Auto, there is currently a process being run under the National Company Law Tribunal (NCLT), in which Bharat Forge has also participated in the process of acquiring Amtek Auto, along with other potential bidders.”
Amtek Auto had posted a net loss of INR 862 crore for the June quarter.
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