Automotive components maker Amtek Auto has signed a deal to acquire the Germany-based Neumayer Tekfor Group for an undisclosed amount.
The acquisition will include an Italy-based forging company Officine Meccaniche Villar Perosa (OMVP) that was acquired by the Neumayer Tekfor from Swedish company SKF in February 2011.
Scheduled to be completed by May 2013, the deal is expected to be valued around $87m and is subject to completion of certain conditions.
In January 2013, Amtek had sold its 5% stake in Gurgaon-based Amtek Crankshaft India for $4.17m and another 5% stake in Amtek Ring Gears for $3.80m.
Automotive components and assemblies including iron, gravity and aluminum castings, forgings, complex machining, ring gears and flywheel assembly are manufactured by Amtek.
