Amtek India extends gains on Kuepper acquisition - 19.03.2014 Shares of Amtek India were up over 6%, extending it 20% rally on Tuesday, on talk that the recent acquisition of German auto component firm has come at a lower cost. The company recently announced acquisition of Germany based Kuepper Group through its 100% step down subsidiary Amtek Kuepper GmBH. Kuepper Group is engaged in the business of iron, aluminium casting and integrated machining having 5 manufacturing facilities across Germany and Hungary. In December, Amtek India had entered into an agreement to buy Germanys Kuepper group of companies, through its 100% subsidiaries. Over 64,000 shares were traded on both the stock exchanges so far.Amtek Auto shares were also up 6% at Rs 147. ****Source: Business-standard
Posted on: Wed, 19 Mar 2014 04:27:47 +0000