Leading Indian automotive supplier Sundaram Fasteners is setting up a facility to make high tensile fasteners in South China. The new unit, to be operational at the end of this month is being set up at the Haiyan Economic Development Zone, located about 100 km from Shanghai.
Go deeper with GlobalData
According to company officials, the Chinese market is the fastest growing in the world and Sundaram Fasteners wants to have a local presence there. Sundaram Fasteners is a supplier to General Motors amongst others.
The new unit is a 100%-owned subsidiary of Sundaram Fasteners, being set up with an initial investment of $US5 million which may go up to $US12.5 million depending on market response and demand.
This unit is part of the company’s plans to grow internationally. Sundaram Fasteners had taken over the precision forgings division of Dana Spicer Europe last year. The company also has a facility in Malaysia, TVS Autolec Ltd.
Deepesh Rathore / Tilak Swarup
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
