Amtek India - Teksid technical collaboration

Amtek India Ltd has informed that the Company signed a technical collaboration agreement with Teksid S.p.A. based in Turin, Italy. Teksid is a world leader in the production of iron castings for the automotive industry with operations spread out in Europe, North and South America and Asia.

Teksid Iron Foundries are a world leading manufacturer of grey and nodular iron castings, whose quality is continuously tuned with the ever more exacting demands of the world-wide automotive industry. Main products are: grey iron cylinder blocks for light vehicles, engine blocks and heads for trucks engine, SiMo exhaust manifolds; nodular iron crankshafts, camshafts, steering knuckles, suspension arms, differential cases.

This technical collaboration agreement with Teksid will provide the Company access to cutting edge technology for the manufacture of 1.3 Litre Small Diesel Engine Blocks in India. The Company is currently single source for the supply of these engine blocks to passenger car manufacturers in India like Maruti Suzuki, Tata - Fiat and TATA Motors. As per the Industry forecasts the sales of passenger cars powered with small diesel engines is going to increase substantially over the next few years and is expected to exceed 500,000 units within next 2 to 3 years alone.

This technical collaboration agreement will be another milestone for the Amtek Group and a step forward in the direction of upgrading its technical expertise in the manufacturing of iron cast small diesel engine blocks for the Indian automotive industry as well as attaining world class technological edge in automotive manufacturing, besides the benefits strong sales growth due to the fast growing diesel engine market in India.