CHENNAI, JULY 28:
Sundram Fasteners, a TVS Group company, plans to spend Rs 100 crore this year on expanding capacities and developing new products. This capital expenditure will be subject to market conditions and internal accruals, according to the company.In the last financial year, the company pruned its capital expenditure from the budgeted Rs 150 crore to Rs 97.45 crore due to lower demand projections from customers.
NEW PRODUCTS
According Sundram Fasteners’ 2012-13 annual report, the company proposes to add capacities on some of its product lines based on long-term contracts with its existing customers. It also proposes to add secondary capacities to develop new products for its customers.
via Sundram Fasteners to spend Rs 100 cr on capacity expansion | Business Line.