Sundram Fastener Sales Rise, Profit Declines

Jason Sandefur

India’s Sundram Fasteners reported sales rose 22% to 3.6 billion rupees (US$85.6 million) during the second quarter of 2008. However, net profit was cut by half, with income dropping 49.7% to 128.6 million rupees (US$3.03m).

Sundram Fasteners president Sampathkumar Moorthyn has revealed aspirations of acquiring a manufacturer in North America. 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. Web: sundram.com �2008 FastenerNews.com