Amtek Auto inks JV pact with Belgian firm VCST

Amtek Auto has inked a 50:50 Joint venture deal with VCST Industrial Products bvba of Belgium to set up a state-of-the-art manufacturing facility for powertrain components in India.

According to a release issued by Amtek Auto to the BSE today, the JV will primarily focus on the manufacture of gears and shafts for automotive on- and off-road applications.

The manufacturing facility under the joint venture will be set-up near the company's cluster of manufacturing plants in Sanaswadi near Pune with an initial installed capacity of about 1.5 million components for exports. The facility is scheduled to start shipping out finished parts by February 2008.