Amtek Auto Limited. : Amtek Auto completes acquisition of Neumayer Tekfor

For Immediate Release June 01, 2013

The Amtek Group now has a turnover of over US$ 2.0 billion and 53 world-class facilities globally. In addition to being one of the leading casting and machining companies in the automotive sector, the Group has become one of the world's largest global forging and integrated machining companies with a consolidated capacity of ~1 million tonnes.
On March 10, 2013, Amtek Auto announced the signing of a contract to acquire the Neumayer Tekfor Group, a market leader in the development and production of pioneering solutions for transmissions, engines, drivelines, special applications and safety fasteners. Tekfor also delivers access to high-end technology processes including Hatebur and Warm & Cold forging technology.
Tekfor's blue chip customer base will increase the combined group market share and diversify revenue streams. The top customers for Tekfor include Volkswagen Group, Fiat, SKF, BMW, Daimler and Ford. The company has nine manufacturing facilities and over 3,300 employees across Germany, US, Brazil, Mexico and Italy. Tekfor's 2012 turnover and EBITDA were approximately € 500 million and € 40 million, respectively.
This transformational acquisition provides Amtek Auto with an enhanced geographic market reach from which to supply its combined global customers. The Group has a geographically balanced market portfolio with India and Overseas contributing equally to global revenues. Overall, Tekfor is highly complementary to Amtek Auto's existing business and the Group will benefit from global customer related synergies.
Amtek Auto retained an international team to provide advice on this cross border transaction including Rothschild and Freshfields Bruckhaus Deringer. Banking services were provided by Standard Chartered.
Commenting on the acquisition, Mr. John Flintham, Senior Managing Director of Amtek Group

said:

"With the integration of Tekfor now underway, the Amtek Group has emerged as one of the world's leading global forging and integrated machining companies. Operational and technical customer commitment remains management's highest priority leveraging our world class manufacturing platform. Shareholder value will continue to be enhanced through ongoing synergies and complementary capabilities of this acquisition with our financially strong core business"

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For further information on Amtek Auto visit www.amtek.com

This release contains statements that contain "forward looking statements" including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Amtek Group's (i.e. "Amtek Group" represents Amtek Auto, Amtek India & Ahmednagar Forgings and their subsidiaries) future business developments and economic performance. While these forward looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations. These factors include, but are not limited to, general market, macroeconomic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance. Amtek Group undertakes no obligation to publicly revise any forward looking statements to reflect future / likely events or circumstances

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