Amtek Auto Ltd, which is led by Arvind Dham, has indicated that it is planning to acquire business units of Germany's Neumayer Tekfor Group.

The company did not announce the financial details of the deal. Amtek Auto, which is backed by investors like Warburg Pincus and ChrysCapital, has finalised the deal to acquire the business interest of the German firm. The company said in a filing with the Bombay Stock Exchange (BSE) that the business unit of the German auto component firm has annual revenues of around _500 million or $650 million.

Amtek Auto had recorded consolidated revenue of Rs. 7,622 crore during the one year till June 2012. After the acquisition of the business unit, the company is set to become the second largest Indian auto component firm by revenues. Officials said that the deal to acquire assets of Neumayer Tekfor is set to fulfilment of certain conditions that are expected to be met by May this year.

Neumayer Tekfor Group operates a total of nine manufacturing units across Germany, Italy, USA, Mexico, and Brazil and focuses on forging and integrated machining. On the other hand, Amtek Auto produces automotive components and assemblies, iron, gravity and aluminum castings, forgings, complex machining, ring gears and flywheel assembly and is based in Gurgaon.