Indian-origin tycoon buys car parts maker; saves 550 jobs in UK


LONDON: Indian-origin businessman Sanjeev Gupta, whose Liberty House group has been on a buying spree in the UK’s steel sector, has come to the rescue of hundreds of employees of a top British manufacturer of cast aluminium engine and vehicle components.

The Liberty House group on Thursday said that is has bought the trade and assets of AmtekAluminium Castings (Witham) Limited and King Automotive Systems Limited (Amtek UK) for an undisclosed sum from administrators PwC, saving the jobs of around 550 automotive workers.

Click here to read more…