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Business

Autoparts maker buys Asahi Tec's aluminum-casting operations

TOKYO -- Indian autoparts giant Amtek Auto has purchased the iron and aluminum-casting business of Japanese rival Asahi Tec for an undisclosed amount.

     Amtek also bought Asahi Tec's machining operation, with combined sales of the two businesses totaling $375 million. Amtek hopes to parlay the purchase to expand its business opportunities in Japan and Southeast Asia, boosting orders with Mitsubishi Fuso Truck and Bus, Hino Motors and Komatsu, among other big-name Japanese companies Asahi Tec does business with. Amtek anticipates group sales to reach over $3.5 billion as a result of the acquisition.  

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