Amtek Auto acquires JL French's Witham Assets, London

Amtek Auto Ltd has announced that the Company has acquired the entire assets of U.K. based J L French's (Witham) Ltd (JLF), a Company engaged in the business of manufacturing of HPDC Aluminium for automotive application.

The J L French's business has been developed to offer die-casting solutions including product design, simulation, testing, rapid prototyping, high pressure die-casting, precision machining and assembly. This is predominantly aimed at the European automotive industry however there are a number of alternative strategic markets, which could also be explored.

In respect of the automotive industry, JLF has a number of years experience in Full Service Supply for FEAD (Front End Auxiliary Drive) & Engine / Transmission Bracket Supply and has been a "Q1" Accredited Ford Motor Company ("FMC") key tier 1 supplier for a number of years and is currently working towards ensuring that they are TS compliant. This facility currently makes a variety of aluminium castings for the likes of Land Rover, Jaguar, Trellborg, Ford and PSA (Peugeot).

JLF Witham facility also has a fully equipped where most of the aluminium castings produced in the HPDC facility are machined. The current sales revenues are at about US$ 60 Million with 60% capacity utilization. This facility has 18 HPDC lines between 400 and 1600 tons rating and is capable of generating sales revenue of US$ 120 Million.

This acquisition will be another milestone for the Amtek Group and a step forward in direction of expanding its customer and product portfolio as well as attaining world class technological edge in automotive component manufacturing, especially in aluminium high pressure die-casting segment.

Source : Equity Bulls

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