A steel giant Liberty House Group, headed by businessman Sanjeev Gupta, has acquired a manufacturer of cast aluminium engine and vehicle components in a rescue deal that helps save the jobs of around 550 workers.
The Group has bought the trade and assets of Amtek Aluminium Castings (Witham) Limited and King Automotive Systems Limited (Amtek UK) for an undisclosed sum from administrators PwC.
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Sanjeev Gupta, executive chairman of the Liberty House Group said: “despite current challenges, this operation is a valuable asset and a vital part of the UK and EU automotive supply chain. We are very pleased to use our resources and extensive experience in the automotive sector to rescue this enterprise and enable it to recover and reach its true potential."
Amtek UK, is a Tier 1 supplier to major vehicle manufacturers, has two plants in the West Midlands and one at Witham in Essex. Amtek UK was impacted by debt and cash flow difficulties.
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“The business, which will in future be known as Liberty Aluminium Technologies will form part of Liberty’s growing network of metal manufacture and engineering businesses, linked to its GREENMETAL strategy for integrated and environmentally sustainable production,” the Group said.
Currently , the Group is developing a major alloy wheel manufacturing plant next to its primary aluminium smelter in Fort William, which will supply around 2m wheels a year to UK vehicle manufacturers.
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