India’s Sundram Seeking to Acquire North American Manufacturer
India’s Sundram Seeking to Acquire North American Manufacturer
John Wolz
India’s Sundram Fasteners Ltd. is seeking to acquire a North American auto components manufacturer, president Sampathkumar Moorthy told the AIMA and AAMO national conventions in Calcutta.
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.
“We don”‘t have a manufacturing facility in North America,” Moorthy pointed out.
Sundram seeks to improve its technology by acquiring a company in the Motor City. “”We plan to buy a company that makes powder metal parts, pumps and assemblies for vehicles. The acquisition will be valued at between $70 million and $80 million. We had acquired our German unit for 50
million euros (US$68.8m),” Moorthy added.
Sundram manufactures high tensile fasteners and automotive and engineering components and is ISO 9000, ISO 14001 and TS 16949 certified. Sundram reported sales totaling Rs 337.55 crore (US$8.4m) for the quarter ended June 30, up from 324.1 crore (US$8.02m) in the same quarter of 3006. Web: sundram.com �2007 FastenerNews.com and Fastener & Fixing Europe
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