Amtek Auto and Sumitomo Metal Industries of Japan have signed a joint venture agreement for production and sale of forged crankshafts for automotive applications in India.
The joint venture is to be formed with an investment of 50 per cent by Amtek, 40 per cent by Sumitomo Metals and 10 per cent by Sumitomo Corporation, which is the global partner of crankshaft business of Sumitomo Metals.
While Amtek will contribute to the joint venture its existing local market and manufacturing know-how and experience, Sumitomo Metals will bring its crankshaft forging technology. With this, Sumitomo will have production systems in US, China and India, besides Japan, said a press release.
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