Sundram Fasteners, part of the 21-company TVS Group of Companies and one of India's largest automotive component suppliers, has commenced operations at its new SEZ unit at Sri City, Andhra Pradesh. The new facility has been set up with an initial investment of Rs 100 crore.
The unit will manufacture and export high precision engineering components to a leading European manufacturer for onward supply to its global marquee OEM customers for their existing as well as new programs.
Sundram Fasteners says the new facility has commenced commercial production and made the first shipment to Germany on January 27. Set up in 1966, Sundram Fasteners has grown into a global leader manufacturing critical, high-precision components for the automotive, aviation and windmill sectors. Its expansive product portfolio encompasses fasteners, powertrain components, sintered metal products, iron powder, cold extruded parts, radiator caps, water and fuel pumps, and wind energy components.
According to the company the new facility will provide further impetus to exports thrust through addition of products to its portfolio as well as diversifying its export customer base.
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