Sundram Fasteners Limited, part of the $5-billion TVS Group, has entered into a 50:50 joint venture with Wolfgang Walter Naumann of Germany to set up a plant for manufacture of fasteners for wind energy generators (WEG). The company has invested Euro 3 million by way of equity capital and loans.
“As the emphasis on production of clean energy is likely to gather pace after the shutdown of nuclear plants, demand for WEG is likely to increase. The facility, located at Hohenstein in the eastern part of Germany, is expected to commence operations during the third quarter of the 2012 calendar,” it stated in its annual report. (…)
