Amtek Auto to sell Tekfor

Amtek Auto plans to sell Tekfor, the German forging company, which it acquired in 2013, for Rs 6,000 crore. The Delhi-based automobile component manufacturer Tekfor generates Rs 4,600 crore of annual revenue and produces components related to transmissions, engines, drivelines, special applications and safety fasteners. Its customers include Volkswagen Group, Fiat, SKF, BMW, Daimler and Ford. The company has nine manufacturing facilities and about 3,000 employees across Germany, the US, Brazil, Mexico and Italy. Contact: Amtek Auto. Website: www.amtek.com