8/4/2011 1:14:00 AM
NEWS BRIEFS
Sundram Pushes to Produce Wind Energy Fasteners
Sundram Fasteners plans to become the first company in India to manufacture components for wind turbine generators, the Financial Chronicle reports.
The move follows a “boom in wind power” in India, a development big enough to entice the automotive fastener maker to branch into new sectors.
“We will be the only Indian company to manufacture fasteners for wind generators,” a top Sundram official stated. “At present, a major portion of the demand for manufacturers is met through imports from other countries. We will produce and supply high quality fasteners for the manufacturers in India.”
OEM potential is “really huge,” the official noted, saying that wind turbine makers such as Suzlon and Gamesa could be its potential OEM clients. He added that Sundram would look to potentially export its specialty fasteners to other markets.
Currently there are about 17 wind turbine manufacturers in India, with another 10 or so companies expected to begin manufacturing wind turbine generators in the next 2-3 years as India makes good on its status as “one of the emerging global hubs for manufacturing wind turbine generators,” according to the Global Wind Energy Council.
Sundram will invest a reported Rs 1,808 crore to expand the existing production capacity.
“We are slightly short of capacity and hence want to increase it to be a little ahead of market demand. We anticipate increasing demand in both domestic and export markets,” the official said. ©2011 GlobalFastenerNews.com
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