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Sundram Fasteners in JV Pact with German Firm
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2012-08-17
Sundram Fasteners has signed a JV pact with Wolfgang Walter Naumann of Germany.
The 50:50 JV will set up a plant for manufacture of fasteners for wind energy generators (WEG) in Germany. The facility, located at Hohenstein in the eastern part of Germany, is expected to commence operations during the third quarter of the 2012 calendar. Sundram has invested EUR3 million (approx Rs 20.4 crore) by way of equity capital and loans.
Meanwhile, the company has set up facilities at Mittamandagapet in Tamil Nadu for the manufacture of fasteners for use in WEG. Work on the company’s project for manufacture of sprockets at the factory in an SEZ at Maraimalainagar is complete and supplies have commenced. (source: ProjectsToday.com)
The 50:50 JV will set up a plant for manufacture of fasteners for wind energy generators (WEG) in Germany. The facility, located at Hohenstein in the eastern part of Germany, is expected to commence operations during the third quarter of the 2012 calendar. Sundram has invested EUR3 million (approx Rs 20.4 crore) by way of equity capital and loans.
Meanwhile, the company has set up facilities at Mittamandagapet in Tamil Nadu for the manufacture of fasteners for use in WEG. Work on the company’s project for manufacture of sprockets at the factory in an SEZ at Maraimalainagar is complete and supplies have commenced. (source: ProjectsToday.com)
