undram Fasteners has informed the bourses that it has formed a new subsidiary Sundram International Ltd in the UK. Earlier, its shareholders had approved the transfer of its entire stake in Cramlington Precision Forge, UK, and Sundram Fasteners (Zhejiang) Ltd, China, (wholly-owned subsidiaries) to a new company in the United Kingdom. The company has invested GBP 1,000 or ₹95,150.19 on March 31, towards initial capital contribution in Sundram International.
