Amtek India, Amtek Auto extend rally post acquisition of Kuepper Group Germany

In past one month, Amtek Auto has zoomed 75% from Rs 89.20, while Amtek India gained 48% from Rs 61.70 on BSE.

Shares of Amtek Group companies – Amtek India and Amtek Auto have rallied more than 10% each, extending their gain post acquisition of the Germany-based Kuepper group of companies.

Amtek India has surged 13% to Rs 91.35, while Amtek Auto by nearly 12% to Rs 156 on the Bombay Stock Exchange (BSE).

In past one month, shares of Amtek India has surged 48% from Rs 61.70, while Amtek India’s parent Amtek Auto also zoomed 75% from Rs 89.20 on February 24. The benchmark indices are up 6% during the month.

On March 14, 2014, the company said that it has successfully completed the acquisition of substantial interest of Germany-based Kuepper Group.

On December 24, 2013, Amtek India had announced the acquisition of Kuepper Group through its step-down subsidiary Amtek Kuepper GmBH. The financial terms of acquisition were not disclosed.

The transaction is highly synergistic with the Amtek Group’s existing global manufacturing platform and reinforces its position as one of the world’s largest automotive component suppliers.

The enhanced capacity and product range will enable the Amtek Group to better service its global OEM and Tier 1 blue chip customer base, Amtek India said in a press release.

Kuepper Group is engaged in the business of iron, aluminium casting and integrated machining having 5 manufacturing facilities across Germany and Hungary.

Kuepper is one of the market leaders in turbo charger machined castings. It supplies components to a wide range of customers, primarily in the automotive sector. End markets include passenger cars, light, medium and heavy commercial vehicles. Top customers for Kuepper include BMW, Daimler, Renault Nissan and Volkswagen.