India’s Sundram To Build China Plant
India’s Sundram To Build China Plant
Jason Sandefur
Sundram Fasteners Ltd. is advancing into Asian markets by setting up a $5 million wholly owned subsidiary in China, according to the Business Standard. Chennai, India-based Sundram is reportedly the first Indian engineering company to establish operations in China.
Sundram is building a fastener plant in the Haiyan Economic Development Zone about 60 miles outside Shanghai. The facility, which will manufacture value-added specialty and standard fasteners, is expected to go on-line in mid-2004. Sundram signed a 50-year lease on the property.
Sundram has received letters of interest of automakers including General Motors, Delphi and Cummins. The company says its investment could be increased to $12.5 million if the market responds well.
Sundram will target businesses in China before spreading into Taiwan and Korea, and hopes to serve both commercial and passenger car manufacturers.
Sundram is part of TVS, a large component group in India with annual sales of $1.7 billion. Last year Sundram, the first Indian company to achieve ISO 9000 certification, reported revenue of $89 million, according to the company�s website, sundram.com. �2003 FastenerNews.com
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