Amtek acquires Volvo Cars' auto component plant in Sweden

Amtek Group, a global manufacturer of automotive components, has acquired Volvo Cars’ auto component plant in Floby, Sweden. The Floby plant produces brake discs, wheel hubs and connecting rods for passenger cars and commercial vehicles.
 
The Floby plant, located in Western Sweden, is a supplier to the automotive industry with around 70 per cent of its output sold to external customers, outside Volvo Cars. The plant has a long history of high quality products and long-term customer relationships. The plant employs 441 people, all of whom will retain their positions under new ownership.
 
Amtek Group, one of the leading Indian auto component manufacturers having manufacturing facilities globally, serves automotive manufacturers as well as companies in other industries.

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“I am very pleased with Amtek as the new owner of the Floby plant. As a global company with a strong presence in the automotive business, Amtek is in a good position to develop and further strengthen the competitiveness of the Floby plant,” commented Lars Wrebo, senior vice president - purchasing and manufacturing at Volvo Cars.
 
Volvo Cars said that it will continue to source components from the Floby plant under its new ownership.