6/4/2009
NEWS BRIEFS
Sundram Sales Fall on Weak Auto Markets

The continued slump in automobile sales pushed India-based Sundram Fasteners Ltd. to a net loss for its fiscal fourth quarter of 2008, which ended March 31.

Sundram said earnings swung to a loss of INR52.5 million (US$111,198), compared with a profit of INR34.2 million during the final quarter of fiscal 2007.

Final quarter sales for fiscal 2008 fell 28% to INR2.24 billion (US$47.1 million). ©2009 GlobalFastenerNews.com

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