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Amtek Auto to sell SMIAC stake to Nippon Steel and Sumitomo Metal Corporation- The 19th China（Guangzhou）Int’l Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
4/20/2018 钣金展-Sheetmetal machinery, Forging, Stamping expo |
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Auto ancillary maker, Amtek Auto Limited will sell all equity and preference shares held in its Joint Venture SMI Amtek Crankshafts Private Limited (SMIAC) to Nippon Steel and Sumitomo Metal Corporation. SMIAC will cease to be a JV of AAL post the stake sale. Amtek Auto said in a regulatory filing that "Pursuant to the approval granted by the committee of creditors of Amtek Auto (AAL)....for sale of all equity shares and preference shares held by AAL in SMI Amtek Crankshaft Pvt Ltd (SMI) to Nippon Steel and Sumitomo Metal Corporation (NSSMC): AAL has signed and executed share purchase agreement with NSSMC."
As per AAL’s FY17 annual report, it owns 50% stake in SMIAC and its investment in the entity was worth INR 50.1 crore as on March 31, 2017. SMIAC had a net worth of INR 77 corer and reported a net loss of INR 4.69 in FY17.
中国最大钣金展-锻压展-2018第十九届广州国际钣金、锻压工业展览会-巨浪展览
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The 19th China（Guangzhou）Int’l
Sheet metal machinery,Forging, Stamping and Setting Equipment Exhibition
-Sheet metal exhibition, Sheet metal expo,
2018 Sheet metal exhibition, 2018 Sheet metal expo, China Sheet metal
exhibition, China Sheet metal expo, Forging exhibition, Forging expo, 2018
Forging exhibition, 2018 Forging expo, Stamping exhibition, Stamping expo
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