ACQUISITION: Sundram Seeking American Acquisition

Jason Sandefur

India’s Sundram Fasteners Ltd. is seeking to acquire a North American auto components manufacturer, president Sampathkumar Moorthy told the National Management Convention in Calcutta.
Sundram already has a sales office and warehouse in the Detroit suburb of Troy, MI. Chennai, India-headquartered Sundram has manufacturing plants in India, Germany, the UK and China and an assembly operation in Malaysia.
“We don”t have a manufacturing facility in North America. We have a unit in Germany and one in the UK that cater to the European markets. We also have a facility in China, which serves South Asian markets,” Moorthy noted.
Moorthy spoke to the convention of the All India Management Association and Asian Association of Management Organizations.
Sundram seeks to improve its technology by acquiring a company in the Motor City. “We plan to buy a company that makes powder metal parts, pumps and assemblies for vehicles. The acquisition will be valued at between $70 million and $80 million. We had acquired our German unit for 50 million Euros (US$68.8m),” Moorthy added.
Sundram manufactures high tensile fasteners and automotive and engineering components and is ISO 9000, ISO 14001 and TS 16949 certified. Sundram Fasteners reported sales totaling Rs 337.55 crore (US$85.7m) for the quarter ended June 30, up from 324.1 crore (US$82.3m) in the same quarter of 2006. Web: sundram.com \ �2007 FastenerNews.com