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American Railcar and Amtek plan India venture

By Associated Press
June 19, 2008 | Comments (0)

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American Railcar Industries Inc. said Thursday it is forming a joint venture with a division of Amtek Group to make and sell railcars and components in India and elsewhere.

The 50-50 venture with Amtek Auto Ltd. will make the products at a facility in India that will be built starting in the second half of the year. Railcar production is expected to begin in 2009.

Financial terms of the deal and other possible markets for the products were not disclosed.

American Railcar shares fell 39 cents to $19.34 in after-hours trading. The stock rose 42 cents to $19.73 during the regular session.

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