ACQUISITION: Sundram Fasteners To Build Two Facilities

Jason Sandefur

Sundram Fasteners Ltd. plans to invest more than Rs100 crore (US$21.5 million) to create more capacity, modernize its facilities and install better quality control equipment, India”s Economic Times reports.
Chennai, India-based Sundram will spend Rs40 crore (US$8.6 million) on a new plant at Pantnagar in Uttaranchal, which is expected to begin operation by March 2007. An additional Rs40 crore will pay for a new unit in Mahindra World City near Chennai, slated to ramp up by 2008. \ �2006 FastenerNews.com