Chalks out Rs 150-crore capex plan for this year
CHENNAI, AUG. 3:
With the domestic auto market slowing, components maker Sundram Fasteners Ltd (SFL) is fastening its grip on the US market.
“Our exports have just boomed. The rupee going down has boosted us quite a bit; the good-old greenback is getting its due,” said Suresh Krishna, Chairman and Managing Director.
“America is not stagnant anymore. It is growing slowly at 2-3 per cent. We expect most growth from US exports,” said Krishna.
KEY CONTRIBUTOR
The US accounts for over 70 per cent of SFL’s exports of Rs 646 crore in 2011-12. General Motors, Ford and Cummins are its big customers. The company’s revenue for FY 12 was Rs 2,147 crore. (…)
via Business Line : Companies News : Sundram Fasteners bets on US market for growth.