Amtek Auto close to $40 mln acquisition-sources

Newswire

MUMBAI, May 31 (Reuters) - Auto parts maker Amtek Auto Ltd. is close to buying an aluminium foundry in the UK from J.L. French Automotive Castings for an enterprise value of about $40 million, two sources close to the deal said on Thursday. The unit, which sells aluminium casts and machined parts to automakers including Ford and PSA Peugeot Citroen , has annual sales of about $80 million and a 20,000 tonne capacity, the sources said. The deal could be valued at about 4 times core ...

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