A SUCCESS STORY OF FORTUNE COMPANY

AHMADNAGAR FORGINGS

By – Students of Post Graduate Diploma in Human Resource

Management

SUBMITTED TO:
SUBMITTED BY:

Mr D.K.GARG Bhabya kumari

Chairman ENR :HHR(3005)

ISHAN INSTITUTE OF MANAGEMENT &TECHNOLOGY

GAMMA 2, INSTITUTIONAL AREA,

GREATER NOIDA

Web site: www.ishanfamily.com

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Table of content
PARTICULAR PAGE NO.

INTRODUCTION(ORIGIN) 3

BACKGROUND OF THE PROMOTERS 3-4

HISTORY OF THE COMPANY 4-6

PRODUCT EXPANTION PLAN 6-8

GEOGRAPHY OF THE COMPANY 8-9

R&D INNOVATIONS 9-10

PROBLEMS FACED BY THE COMPANY 10

COMPETITORS 10-11

PRESENT STATUS OF THE COMPANY 11-14

ACHIEVEMENTS OF THE COMPANY 14-15

Soft copy verification from the IT department:

Comments:

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Date:

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 ORIGIN OF THE COMPANY
YEAR EVENTS 1977, The Company was incorporated on 21st March and it reserved the
Certificate for commencement of Business on April 1st. It was promoted by a group of
technical consisting of U.V. Patel, M.S. Aruna & J.S. Mody. The Company's plants are
located at D-95, MIDC Industrial area Ahmednagar, at Taluka Khed, Dist. Pune.
The company's object is to manufacture of closed die steel forgings.
The Company had undertaken an expansion programme for steel forgings in automobiles
as well as in general engineering industry, the company had undertaken an expansion
programme by selling up a new plant at Chakan near Pune with an invesment of Rs.580
lakhs.

1992 - The Company acquired assets of a sick unit in Ahmednagar from SICOM to
manufacture cold forgings. The unit remained as Asian Auto Parts, a division of
Ahmednagar Forgings Ltd.

1993 - The Company undertook to set up its fourth unit at Kuruli Mar Chankan in
modern press forgings line.

1994 - 6, 08,000 No. of equity shares allotted 15,20,000 shares were issued to the
promoters in prop. 5:2. 9, 12,000 No. of equity shares were issued at a prem of Rs.13 per
share through a prospectus during January 1992 of which 45,600 shares issued to
employees (all were taken up). Balance 8, 66,400 shares issued to the public.

1996 - 9, 60,000 No. of equity shares at a prem. of Rs.165 per share to Financial
Institution on private placement basis in March 1995. Another 40, 00,000 shares issued as
bonus shares on 26.5.1995 in prop. 1:1.
1997 - Two presses were commissioned and the third one was to be commissioned soon.
2004 -Ahmednagar Forgings Ltd has informed that the equity shares of the company
have been delisted from Pune Stock Exchange Limited weft January 16,
2004.Manufacturing: Manufacture and distribution of high-precision closed die steel
forgings and auto components for the automotive, defense and railway industries. A
member of the Amtek Group of companies

BACKGROUND OF PROMOTER
U.V.patel is the promoter of Ahmadnager forgings. - The Company was incorporated on
21st March and it reserved the Certificate for commencement of Business on April 1st. It
was promoted by a group of technicals consisting of U.V. Patel, M.S. Aruna & J.S.
Mody. The Company's plants are located at D-95, MIDC Industrial area Ahmednagar, at
Taluka Khed, Dist. Pune. The company's object is to manufacture of closed die steel
forgings.The Company had undertaken an expansion programme for steel forgings in
automobiles as well as in general engineering industry, the company had undertaken and

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Expansion programme by selling up a new plant at Chakan near Pune with an investment.
.

BOARD OF DIRECTOR

Name Designation
Mr arvind dham chairman
Mr gautam malhotra director
Mr vivek agrawal director
Mrs somya narayanan director

Rajgopalan
Mr b.lugani director
Mr s.e Krishnan director

KEY EXECUTIVE
NAME DESIGNATION
Mr probhojit singh co.secretory & comp officer

Ahluwalia

HISTORY OF THE BUSINESS

Amtek Group seeks to create value for all its stakeholders by providing high value
environmental friendly products and services.constantly innovating and ensuring timely
supply of quality products at competitive prices,setting standards of excellence through
global benchmarking
Business description-Manufacturing: Manufacture and distribution of high-precision
closed die steel forgings and auto components for the automotive, defense and railway
industries. A member of the Amtek Group of companies.Amtek India or Amtek India
Ltd is an India based automotive components manufacturer. Amtek India belongs to the
leading auto component manufacturer the Amtek Group and was established in 1985.
The group includes the following companies -

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 • Amtek India or Amtek India Ltd.
• Amtek Auto Ltd.
• Ahmednagar Forgings Ltd.

Ahmednagar Forgings Ltd is the largest forging manufacturer in the small and medium
component segment. The company is engaged in the manufacture of high precision
closed die steel forgings and auto components for the automotive, defence and railway
sectors. The major customers of the company include Fairfield Atlas, USA, Cummins,
King Automotive Systems Ltd, Coventry, Letchworth, Zelter GmbH and Hennef. The
company specializes in products like connecting rods and caps, crankshafts and
camshafts, steering levers, gear shifter forks, sector gears and shafts, front impact beams
drive shafts, spindlers, hubs and flanges, transmission components, steering parts,
pistons, propeller fork shafts, stub-axles, front exle beams, front and rear axle
shafts.Ahmednagar Forgings Limited (NSE: AHMEDFORGE, BSE: 513335) is the
second largest manufacturer of forged automotive components, cold forged parts and
high tensile fasteners in India. Its product portfolio consists of a range of components for
2/3 wheelers, cars, tractors, light commercial vehicles (LCV), heavy commercial vehicles
(HCV) and stationary engines. The categories of components manufactured are
camshafts, connecting rods, crankshafts, crown wheel, hub and shafts.The objective of
Ahmednagar Forgings Investor Relations is to ensure continuous and open
communication with all financial market participants.

YEAR EVENTS 1977 – The Comp. was incorporated on 21st March & it reserved the
Certificate for commencement of Business on April 1st. It was promoted by a group of
technicals consisting of U.V. Patel, M.S. Aruna and J.S. Mody. The Company plants are
located at D-95, MIDC Industrial area Ahmednagar, at Taluka Khed, Dist. Pune. The
company objects is to manufacture of closed die steel forgings. The Comp.
hadundertaken an expansion programme for steel forgings in automobiles as well as in
general engineering industry, the Comp. had undertaken an expansion programme by
selling up a new plant at Chakan near Pune with an invesment of Rs.580 lakhs.

1992 - The Comp. acquired assets of sick unit in Ahmednagar from SICOM to
manufacture cold forgings. The unit remained as Asian Auto Parts, a division of
Ahmednagar Forgings limited

1993 – The Comp. undertook to set up its fourth unit at Kuruli Mar Chankan in modern
press forgings line.

1994 – 6, 08,000 No. of equity shares allotted 15, 20,000 shares were issued to the
promoters in prop. 5:2. 9,12,000 No. of equity shares were issued at a prim of Rs.13 per
share through a prospectus during January 1992 of which 45,600 shares issued to
employees [all were taken ups]. Balance 8,66,400 shares issued to the public.

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1996 – 9,60,000 No. of equity shares at a prem. of Rs.165 per share to Financial
Institution on private placement basis in March 1995. Another 40, 00,000 shares issued as
bonus shares on 26.5.1995 in prop. 1:1.

1997 – Two presses were commissioned & the third one was to be commissioned soon.

2004 -Ahmednagar Forgings Ltd has informed that the equity shares of Comp. have been
delisted from Pune Stock Exchange Limited wef January 16, 2004. The most preferred
and reliable provider of automotive components & supplies globally, with an unflinching
commitment towards technological excellence. Amtek Group seeks to create value for all
its stakeholders by providing high value environmental friendly products and services
constantly innovating and ensuring timely supply of quality products at competitive
prices setting standards of excellence through global benchmarking
maintaining ethical standards

PRODUCT, PLANNING & EXPANSION OF PRODUCT

Product:

Castings

Con Rod

Crank Shaft

Forgings

Front Wheel Hub Fact Sheet

• Year of Establishment: 1971

• Legal Status of Firm: Limited Liability/Corporation (ListedCompany)

• Nature of Business: Manufacturer, Exporter

• Number of Employees: 101 to 500 People

Turnover: US$ 25-100 Million
Major Markets: East Europe and East Asia
Related categories

• Abrasive Blasting Machine

• Dredging Machines
• Drum Crushers
• Die Cutting Presses

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• Air Classifiers
• Cone Crusher
• Cryogenic Equipment
• Extrusion Press
• Arihant Engineers,Vadodara

Engaged in manufacturing and supplying of machines like scrap baling machines,

shredding machines, hydraulic baling machines, shredding machines and.

Paper Board Machinery Company -Exporter and supplier of die cutting machines, rotary
die cutting machines, automatic folder gluing machines, automatic sheet laminating
machines,.

Calima Technologies Private Limited -Exporter of acid cleaning machines for pcb
production, etching machines for pcb production, compact process lines for pcb
production, pcb production..

Koyka Electronics Pvt. Ltd. -Deals

in manufacturing and supplying of
straightener machines, automotive straightener machines, high speed
straightener machines and industrial...

Raw material availability (including iron ore and steel)-

India has low-cost manufacturers of steel and aluminium, which are major
suppliers to the forging and casting industry. The readily available low
cost raw material supply, together with the production capabilities, helps
reduce costs of procurement and makes India an attractive outsourcing
market.

Proximity to markets
- Proximity to other Asian economies
- Proximity to the emerging markets like India
- Shipments to Europe cheaper than those from Brazil and Thailand.
Grants and Incentives for R&D work
- 100% grant for fundamental research
- 75% for pre-competitive technology
- 50% for product development
CONSTRAINTS:Liquidity position,Tightening of liquidity position would have an
adverse impact on the Industry. Hardening of interest rates and other inflationary trends.
Due to overall recession in the industry, there has been increase in nterest rates and
inflation in the economy which caused adverse impact on the industry and in turn
company's revenue and profits.Prices of commodity items like steel, non-ferrous and
precious metals .Witnessed unprecedented increases in short period last year, which
could only be partially offset by the Company’s cost reduction initiatives. Whilst the
Company continues to pursue cost reduction initiatives, increase in price of input
materials, could have a negative impact on the demand in the domestic market and/or

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could severely impact the Company's Profitability to the extent that these cost
sescalations are not absorbed by the market through price realization.The Company has
large foreign currency borrowing in the form of foreign Currency convertible securities.
Movements in exchange rates and volatility in the foreign exchange markets could
significantly impact profits.
Manufacturing:The Company manufactures its products at multiple location and its
Operations could be affected by disruption in its supply chain due to any Natural
calamities and work stoppages at its suppliers end due to load Shedding, labor problems,
etc.
SEGMENT WISE PERFORMANCEThe company deals in only one segment i.e.
Automotive components. Therefore, it is not possible to give segment wise performance.
FURTURE OUTLOOK:Gradually, the automotive industry is showing signs of revival
in domestic Market which leads to improvement in the automotive components industry.
As far as export demand is concerned, the Indian automotive components Industry
has strong potential to increase exports due to optimal cost, Adherence to quality
controls, World class Research and Development Facilities, availability of skilled
manpower, latest technology and high Quality vehicular testing. In the light of the above,
we believe that the Total value of export of auto component is expected to reach US$ 20-
25 Billion. Considering the scenario, it is expected that by 2016, automotive sector
canDOUBLE its percentage contribution to GDP from current levels of 5% (US $ 50
billion) to 10% ($180 billion) which could result in India Becoming World's third largest
automobile market in 2030.

BUSINESS GEOGRAPHY:
Maharashtra
Address : Ahmadnegar forgings ltd, Gate no 614 at village kuruli talkhed,Pune
Ph.no 91-02356-252105/253783/84/85 , Fax no. 01-02356-252148
Web site url : http/www.amtek.com/group_ahmedngr.asp
Email address :afl.pun2amtek.com
Maharashtra is divided into thirty-five districts, which are grouped into six official
revenue divisions:
1. Aurangabad Division

2. Amravati Division

3. Konkan Division

4. Nagpur Division

5. Nashik Division

6. Pune Division

Geographically and historically, Maharashtra has five main regions:

• Vidarbha or Berar (Nagpur and Amravati divisions)

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 • Marathwada (Aurangabad Division)

• Khandesh and Northern Maharashtra (Nashik Division)

• Desh or Western Maharashtra (Pune Division)

• Konkan (Konkan Division)

Districts: In all 36 districts: Ahmednagar, Akola, Amrawati, Aurangabad,

Beed, Bhandara, Buldhana, Chandrapur Dhule, Gadchiroli, Gondia, Hingoli,
Jalgaon, Jalna, Kolhapur, Latur, Nagpur, Nanded, Nandurbur, Nashik,
Osmanabad, Parbhani, Pune, Ratnagiri, Satara, Sangli, Sindhudurgh, Solapur,
Wardha, Washim, and Yavatmal Branching outWith countries like China,
Hungary, Poland and Thailand also saddled with excess capacity and looking
for markets for their products that are more cost-competitive than Amtek,
Singhi is sceptical about the firm’s exports recovering. Amtek is also
increasing its focus on non-auto businesses in the domestic market, such as
railways, aerospace and defence. The group is targeting business of Rs300-
Rs500 crore from the defence industry and at least Rs2,000 crore from
railways where margins are relatively higher. It is also studying the
aeronautics business for opportunities in aircraft and airport equipment. “We
still believe what we did was right and we will again follow the same path to
grow,” Dham insisted, adding that he is scouting for an overseas acquisition
in the aerospace industry. “Even if we buy a company abroad, lots of key
functions will have to be relocated to India, so that we enjoy high margins on
them,” he said. In the next three to five years, Dham is confident that the
non-auto segment should contribute 40% in the turnover.Ahmednagar, Baddi,
Bhopal, Chakan, Gurgaon, Kuruli, Bhiwadi, Bhiwadi Diamond, Coimbatore,
Ranjangaon, Amtek Tekfor (JV), India, Amtek VCST (JV), India, Gurgaon,
Manesar, Siccardi, Sanaswadi , Sohna, Dharuhera –

USA unit - Kellog IA, Stanberry MO.

Europe - UK , Tipton, Coventry, Letchworth

R & D – INNOVATION OF THE COMPANY

Infrastructure is a vital part of any organization as it assesses the production capacity for
the same.due to the help of R department it is possible .allot of compitater are presen the
market so ahmadnager forgings with help of amtek group improve its market value and
product both.the latest machines and equipment which enables us to design quality
LAMPS AND LUMINARIES.manufacturing unit also have directed all effort towards
research and development

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 PROBLEM FACED BY THE COMPANY:
The actual problem faced by the company in respect to funds.the actual funds available
with banks to lend would be 4- 4.5 lack scrore,while credit demand is pegged at 6 lack
crore.this can create havoc in the economy. AFL's net sales went up by 60% YoY to
Rs.6,002mn backed by strong domestic and exports growth. For FY07, AFL reported
export revenue to the tune of Rs.2bn, up by almost 10x. AFL's EBITDA soared by 68%
YoY to Rs.1, 191mn and its EBITD Amargins grew by a whopping 193bps YoY to 21%
from 19% in Q4FY06. It's noteworthy that AFL's margins went up despite raw material
costs as a percentage of net sales went up by 411bps YoY. For FY07 AFL's EBITDA
jumped by 69% to Rs.1,234mn and its EBITDA margins went up by 108bps YoY to
20.6%.AFL is expected to report strong net sales and net profit growth at a CAGR of
37% and 36% respectively during FY07-09E.AFL stock currently trades at 12x FY07E
and 8x FY08E which is attractive. Reliance is positive on the long term prospects of
the company and recommend investors a BUY with a target price of Rs.
337.ACCORDING TO Manging director, Mr RAM. R.m .then your maWhen an question
is asked with him that what are the challenges you face when you councieve a
starategy.He said compitatoters are the main challenges of the company.whe you concive
a strategy particularly it is done without input from your team then your major challenges
is in conveying that stategy in a compelling way so that the people will buy into it and
enthuasistically make it happen according to the FRANK .F chairman of
company.Ahamdnager forgings also faced the problem like other company to get
recognition and establishment in initially.

COMPITATOR

• Aditya Forgings

• Ahmedn Forgings Ltd.agar

• Ahmad forgings ltd.

• Bhart forge ltd

• El forge ltd.

• Hilton metal forgings ltd

• Japan industry ltd

• Kalyany forge ltd

• Lgb forge ltd

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 • MM forge ltd

• Mahindra forging ltd

• Micro forge (India) ltd

• Patheja forging and auto parts manufacturer ltd

• Pradip metal ltd

• Rajkumar forge ltd

• Ramkrishna forging ltd

• S.S forging and engineering ltd

• Simoga technology ltd.

PRESENT STATUS AND ACHIEVEMENT

The Annual Report of the company for the period ended 30th June, 2003 must have
apprised you of the achievements of your company during the year. However, I take this
opportunity to personally share with you the strategies and future growth prospects of the
company. The Indian economy is one of the fastest growing economies of the world.
During the current year, the country has been blessed with good monsoons which had a
positive effect on the country’s economy. The Indian Economy is witnessing a mood of
buoyancy with feel good factor. Both the manufacturing and service sector are
performing well. Economy is expected to achieve GDP of 8%. Indian Companies have
start acquiring overseas companies to become truly global players. The forex
reserves are at an all time high. The Indian Companies have proved that if provided with
opportunity and infrastructural facilities, they are comparable to the best of the world.
The Indian automotive components manufacturing industry is consistentlygrowing dueto
a sharp growth in the exports in the last 2 - 3 years.The next big opportunity emerging for
the Indian companies is the automotive component exports as the global automotive
OEMs are focusing on third world countries especially India for their global sourcing
programs. The total worth of components procured by global OEMs from India last fiscal
was US$ 375 Million and the same is estimated to increase to a whopping US$ 1.5
Billion in the current fiscal. This has been a result of a silent revolution in the Indian
automotive component industry which has boosted productivity and quality of the Indian
component manufacturers and placed them ideally to emerge as big another success story
of our times. Automotive components industry experts have pegged the worth of the
global automotive components industry at US$ 750 Billion of which the current exports
from India are a mere $ 375 Million or 0.5% only. However, the future of the Indian
component industry looks very exciting. The Indian component industry is likely to see a
consistent growth rate of 35 – 40 %. The Indian automotive component manufacturers are
estimated to export components worth a whopping US$ 15 Billion by the year 2010. The
global sourcing will not remain confined to the global OEMs only. Leading automotive

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component assembly & systems suppliers who have multi-national operations are likely
to focus on outsourcing rather than manufacturing in Europe and the Americas due to
constant cost reduction pressures from their customers. The domestic automobile industry
has had a good run in the last year which, as per the industry experts, is likely to continue
for some time. The development of road networks and national highways has infused a
new lease of life to the commercial vehicle manufacturing industry in India with the last
year recording a year on year growth of 43.20 % for the M&HCV category and an overall
growth of 34.60 %. The passenger car industry has also seen a handsome growth during
the last year in view of an ever increasing market demand fuelled by the increase in the
disposable income of the middle-class of India. The two-wheeler industry, which has
considerable volumes in India, is on the verge of another boom. The growth rate of
motorcycles over the last few years has also fuelled the overall growth of the industry.
This translates into direct benefits to the local automotive component industry.Amtek
Auto Limited is a leading manufacturer of automotive components and assemblies
serving the global automotive industry as an Original Equipment supplier. The company
has created an indelible mark on the Indian Automotive Industry and is set to consolidate
its position in the global automotive scene.

SALES AND PROFITS

During the period, your Company performed exceedingly well with sales recording a
increase of 85.89 % and net profit after tax recording increase of 84.38% over the
previous year. I take pleasure to inform you that for the past eight years your Company
has maintained dividend of consistently at 20%. The current year’s dividend is free of tax
in your hands.

BONUS ISSUE - During the period under review, the company rewarded its
shareholders by way of bonus shares in the ratio of 1:1. The shareholders have been
benefited not only by way of additional shares but also by dividend on existing as well as
bonus shares taking the effective dividend on the pre bonus issue to 40%.

GROWTH THROUGH ACQUISITION

Your Company is moving in line with the strategies drawn by the board for growth. I am
delighted to inform you that during the period under review, your Company acquired two
companies engaged in the auto components sector viz. Ahmednagar Forgings Ltd., Pune
and Smith Jones Inc., USA. Ahmednagar Forgings Limited has four units in Pune
including one fastener unit. The company has turnover of more than Rs.100 Crores. It has
an impressive clientele like Bajaj Auto, Tata Motors and Honda Scooters & Motorcycles
India to name a few. With this acquisition Amtek Auto Limited has become the second
largest manufacturer of forgings in the country with combined installed forging capacity
of 72500 tons per annum. The forging facilities of Amtek Auto Ltd. And Ahmednagar
Forgings Limited are located in different regions of the country whichenables it to meet
the customers’ demand locally. Another subsidiary, Smith Jones Inc. is based in State of
Iowa in the United States of America. This is the largest manufacturer of Flywheel Ring

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Gears and Flex Plate Assemblies in U.S.A. The Company has two manufacturing units
which are accredited with QS-9000 certification. The acquisition of Smith Jones Inc. will
help Amtek to penetrate the U.S and European markets. Smith Jones has turnover of US$
19.45 Million and has most of the U.S. and European auto giants as its clients.

CONSOLIDATION OF BUSINESS

Presently, Amtek Group is the leading player of various auto components with over 300
varieties being manufactured by various Subsidiaries and Associated companies in India
and abroad. The company expects to benefit substantially in form of outsourcing orders
from its subsidiaries and associated companies abroad. Amtek Group, in order to become
a truly global player with strong base and single identity, is planning to consolidate the
entire business of the group within a span of next two to three years under the leadership
of Amtek Auto Limited. In order to accomplish this goal the Company has already
appointed Ernst & Young as advisor for chalking out the strategy for consolidation
process. The management believes that the consolidation of these businesses shall lead to
enhanced stakeholders value.

FUTURE BUSINESS STRATEGY

In order to enter overseas markets with full strength, your company has undertaken
various initiatives that will help it face the challenges in the global market. In today's
world of changing technologies, it is very important for every organization to keep
abreast with new technologies. Towards this end, your company is now investing heavily
in new technologies and R & D facilities especially in the form of latest software oriented
designs and in-house product development. This has not only improved product quality
but has also accelerated production. The company is also makingcapital investments in
the form of latest machines with higher capacities to meet the growing demand. The
company is also taking all steps towards cost cutting to improve the profitability. With
increased capacities, wider acceptability and expanding markets, the future outlook of
your company appears very promising.

CAPITAL MARKET RECOGINITION

The improved performance of your company has attracted investment from various
quarters including FIIs. The Board of Directors of the company met yesterday to consider
enhancement of investment limit by FIIs from 24% to 49% of the paid up Equity Share
Capital of the company and approved the proposal subject to the approval of
shareholders. The Board has also convened the Extra Ordinary General Meeting of the
company which is scheduled to be held on 27th January, 2004 forshareholders approval.
Your Company’s share has recorded reasonable growth in recent years. A large number
of analysts, who follow the progress of the Group, have almost without exception been
positive about the company and we have had a good reputation in the market. The most
important parameter of our company’s progress is how our customers and investors
perceive Amtek and I am sure in recent times the image of your company has sharpened
to a great extent.

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ACHIEVEMENT
The ahmednagar forgings is the fast growing company in the market .it achieved too
much height in very short time. the following achievement of the company

2007 - Established a new manufacturing facility at Sanaswadi, Pune (India) for Forging,
Casting and Machining.

2006- -Set up a new machining facility at Dharuhera (India)MPT Magna India Ltd
(India) (JV with Magna Powertrain for manufacturing Fractured Connecting Rod
Modules)Large scale Aluminum High Pressure Die Casting facility at Ranjangaon, Pune
(India) .

2005 - -Acquisition of Hallberg Guss Aluminum, an Aluminium Casting facility at UK

Took over Zelter GmbH (Germany), one of the largest manufacturers of Turbo Charger
Housing in the worldAmtek Tekfor Automotive Ltd (India) (JV with Neumayer Tekfor
for manufacturing one and two piece flex plates)

2004 - Acquired UK based Sigmacast Iron LtdSet up a Ring Gears facility — Amtek
Gears.

2003 - Took over Letchworth (UK) based GWK Group Ltd., known for complex
machining and high level module assemblyAcquired UK’s largest manufacturer of Ring
Gears and Flywheels — Lloyds Brierly Hill Ltd.

2004 - Acquired UK based Sigmacast Iron LtdSet up a Ring Gears facility — Amtek
Gears

Inc (USA)
2002 - Acquired Midwest Mfg, a US based ring gears manufacturer
Ahmednagar Forgings (India) was taken overEstablished an Iron Casting facility at
Bhiwadi (India)

2001- Acquisition of auto component manufacturing firm, Wesman Halverscheidt

Forgings (India)Indsil Auto components Coimbatore (India), a fully automated
foundrywith machining facilities, was taken over.

1999 Amtek Siccardi, Manesar (India) (JV with Ateliers de Siccardi for Crankshaft
manufacturing)

1998 - A new Machining unit was set up at Gurgaon (India) .

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1997 -Benda Amtek Ltd Gurgaon (India) (JV with Benda Kogyo Japan for Flywheel
Ring Gears manufacturing)

1996-Established a Machining unit at Gurgaon (India)Initiation of forging operations at

Gurgaon, India start of manufacturing at the Machining facility based at Sohna, India

1993 - Initiation of forging operations at Gurgaon, India

1987 -Start of manufacturing at the Machining facility based at Sohna, India

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