Amtek Auto plans to acquire German forging manufacturer Scholz Edelstahl: Sources.

Amtek Auto, one of India's largest auto component makers, is all set to acquire Scholz Edelstahl GmbH of Germany, according to multiple people close to development. Scholz is a high quality hot die forgings manufacturer for both auto and non-auto component industries with annual turnover of around Euro 175 million (or about Euro 1,200 crore).

The acquisition will be done though Amtek Auto's whollyowned Singapore subsidiary Amtek Precision Engineering, said two people close to the development. John Flintham, global CEO of Amtek Group, confirmed the firm's interest in Scholz.

'The possible acquisition of Scholz, which is a highly synergistic acquisition perfectly fits into Amtek Group's existing business,' he told ET. 'Besides, we look forward to capitalising on Scholz's strong customer relationships and large supporting infrastructure to drive backward integration into our group companies,' Flintham said.

The new acquisition has state-of-the-art forging facility in Aalen and also provides customised solutions for steel services and product support out of another facility located in Essingen.


ET