Ahmednagar Forgings Ltd.   (AHMEDFORGE)

AFL is a manufacturer of forging and machined automotive components, cold forged parts and high tensile fasteners. AFL has four plants; two of them are located at Ahmednagar, Maharashtra and the other two near Pune, Maharashtra. One of AFL's plants at Ahmednagar also manufactures high tensile fasteners and cold-formed components. AFL supplies products to its customers based on the technical specifications provided by them. Amtek acquired AFL in order to establish a manufacturing business in Western India, as there were a number of automotive companies which were being supplied by AFL in that region. On 10 October 2002 the Company acquired 1,183,790 fully paid-up equity shares of Rs.10 each in AFL, representing 14.8 percent.

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