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India Inc: Friday, 08 August 2014 10:37
Amtek in Japanese JV
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The Amtek Group, which is one of Indias largest integrated
component manufacturers, has enteredinto a joint
venture agreement with Japanese firm Riken Corporation to ma
nufacture and sell automobile parts.
As part of the agreement, the new JV company will be named Amtek
R iken Casting Private Limited and the initial
capitalof $4 million will be provided by Amtek through its cash
reserves.
Thefoundry will be located in at Bhiwadi in Rajasthan and is
scheduled to start operations by the fourth quarter of
2015. Thenew companywill initially produce 15 lakh iron
camshafts a year for the automobile industry.
The JV will give Amtek access to Rikens new and efficient shell
moulding technology, which would strengthen its
position in the engine camshafts business.
Founded in 1927, Tokyo-based Riken Corporation is engaged in the
manufacture and sale of automotivecomponents, industrial machinery
parts and other products.
It has manufacturing plants across Japan, China, Taiwan,
Indonesia, Thailand, India, the US and Mexico.
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