Auto parts maker Amtek Auto Ltd said on Wednesday it had acquired UK-based precision machining firm Triplex-Ketlon Group for an undisclosed sum.With this, Amtek's revenue from international operations will rise to $770 million a year, and it expects to cross $1 billion per annum within the next two years.
Triplex Ketlon was acquired by the UK-based Barr family in September 2003. According to the company’s website, Triplex, it has three manufacturing sites — at Hereford, Stratford-upon-Avon and Paddockwood. The company supplies fully-machined components and sub assemblies to passenger car makers, commercial vehicle makers and tier-I manufacturers.The auto component sector has seen some aggressive deal making in recent times with Bharat Forge, M&M and Amtek being the most active in the deal space.
Read more in The Economic Times article.
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