Amtek Auto: Revenue to top $2bn post Neumayer Tekfor buy

Amtek Auto's revenue is likely to exceed USD 2 billion post the acquisition of Germany's Neumayer Tekfor Group, John Flintham, senior MD, said on Monday.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney IThe Winning Leap SME Special
Moneycontrol

Home » News » Business

Mar 11, 2013, 08.56 PM | Source: Moneycontrol.com

Amtek Auto: Revenue to top $2bn post Neumayer Tekfor buy

Amtek Auto's revenue is likely to exceed USD 2 billion post the acquisition of Germany's Neumayer Tekfor Group, John Flintham, senior MD, said on Monday.

Like this story, share it with millions of investors on M3

Amtek Auto: Revenue to top $2bn post Neumayer Tekfor buy

Amtek Auto's revenue is likely to exceed USD 2 billion post the acquisition of Germany's Neumayer Tekfor Group, John Flintham, senior MD, said on Monday.

Post Your Comments

Share Cancel

Moneycontrol Bureau

Amtek Auto's revenue is likely to exceed USD 2 billion post the acquisition of Germany's Neumayer Tekfor Group, John Flintham, senior MD, said on Monday.

Earlier, Amtek Auto shares surged 10 percent after the automobile component maker said that it has entered into an agreement to acquire "substantial business interests" of Neumayer Tekfor Group, which is engaged in forging and integrated machining.

Neumayer has 9 manufacturing units across Germany, Italy, USA, Mexico and Brazil and revenue of the acquired business is around euro 500 million.

Flintham told CNBC-TV18 that Amtek's product portfolio will be "majorly" enhanced post the deal and overseas markets will now contribute 45 percent of its revenue.

The revenue is expected to start showing on Amtek's books from FY2014, he added.

The closing of the deal is subject to fulfillment of certain conditions, which are expected to be completed by May 2013-end, Amtek said.

At 13:30hrs, Amtek Auto shares were up 7.5 percent at Rs 76.40 on NSE.

Also Read: Larsen & Toubro shares fall on World Bank sanctions

Buy, Hold, Sell ? Hear it first on M3
Amtek Auto: Revenue to top $2bn post Neumayer Tekfor buy

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login