6/25/2009
NEWS BRIEFS
Sundram Aims for Aerospace Sector
India-based Sundram Fasteners is looking to jump into the aerospace fastener sector, the Hindu reports.
“Our aim is to make fasteners for all metal moving industries,” stated V.G. Jaganathan, president of finance for Sundram. “However, the aerospace sector is very challenging and we may take around two years to enter this segment.”
Sundram will likely set up a new plant to produce aerospace fasteners, though nothing has been finalized.
Nearly 30% of the company’s fastener production goes to commercial vehicle manufacturers, according to the Hindu. Sundrams Chinese subsidiary makes fasteners and bearing houses, while the German company Peiner Umformtechnik manufactures large fasteners for heavy trucks, windmills, heavy industrial and construction equipment.
Fasteners produce more than 40% of overall revenue, the Hindu reports. Cold extrusions and powdered metal products make up another 20%, with the remainder coming from products like pumps, radiator caps.
Jaganathan said topline results for Sundram this year will be flat but profits will be better than last year’s. ©2009 GlobalFastenerNews.com
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