Amtek

Amtek: Was featured in Bloomberg, citing that the maker of iPhone chargers and auto parts for Tesla motors plans to double sales to $2b in 5-7 years through acquisitions. Management highlighted that Interplex Industries, which Amtek is announced it’s acquiring last week for US$210m will fuel that growth, apart from other acquisitions. Amtek expects auto companies to contribute at least 40% of the group’s total revenue over the next two to three years, from the current 18%. CEO Mr Yeong described the first US$1b as a psychological barrier, and that the 2nd billion worth of sales would be much easier to achieve than the first. That said, the next major acquisition will be 3 years down the road. Meanwhile, effort will be focused on making the 2 companies work well together. The Interplex acquisition will give Amtek access to US (5 factories), Mexico (1), and India (2), while Brazil plants may be possible in the near future.