Sterling Tools to Double Capacity
December 19
00:00
2005
Sterling Tools to Double Capacity
Jason Sandefur
India fastener manufacturer Sterling Tools plans to more than double its capacity to 30,000 metric tons by early 2008, the Business Standard reports. An initial 6,000 metric ton capacity increase should be completed by March 2006.
The company, which holds a domestic market share of 27%, exports about 5% of its fasteners to Europe and the U.S. Sterling Tools has recently received orders worth $4 million from MacLean Fogg and LISI, the Standard reports. The value of the orders could jump to $10 million in the next six months.
India’s fastener industry is growing at the rate of 12% to 15% annually. �2005/6 FastenerNews.com
There are no comments at the moment, do you want to add one?
Write a comment