Castex Technologies Ltd Company Summary

Castex Technologies Ltd Summary

Amtek India is the largest manufacturer of gear shifter forks and forks in the country. The company is primarily engaged in the manufacturing of machined and casting components for two wheelers, cars and tractors. They manufacture automotive components with a special focus on a variety of iron castings. The company has two manufacturing units located at Gurgaon in Haryana, Solan in Himachal Pradesh and Bhiwadi in Rajasthan.Amtek India Ltd was incorporated in the year 1983 and was promoted by the Amtek group. The company is the original equipment supplier to Maruti Udyog, JCB, New Holland Tractors, John Deere Tractors, Hundai Motors, ITL, Eicher Motor and also refrigeration industries like LG Electronics. The company commissioned their Gurgaon unit in the year 1995 which is engaged in the machining of a variety of large and medium sized automotive components like connecting-rods, spindles, transmission covers, gear shifter fork, yokes, bridge fork, bottom assembly, pivot arms, crank-cases and other machined castings. During the year 2001-02, the company has commissioned state of art foundry/ machining at Bhiwadi in Rajasthan with an installed capacity of 30000 TPA which has best the equipments imported from George Fischer Disa, Switzerland. The installed capacity of Auto Components has been increased from 7.5 million to 12.5 million pieces per annum during the year 2004-05 and they further increased to 17.5 million pieces per annum during the year 2005-06.During the year 2005-06, the company acquired 100% equity stake of UK based Sigmacast Group Ltd, which is one of the largest suppliers of turbocharger housing in the world. The company was acquired through their UK subsidiary Amtek Industries Ltd. This acquisition gave the overseas customers like General Motors, Ford and Land Rover to the company.During the year 2006-07, the company expanded their Casting capacity from 30000 TPA to 75000 TPA. In November 2007, the company signed a technical collaboration agreement with Teksid SpA, Italy which 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.The company has approved the merger of the company with Amtek Auto Ltd.