With the domestic market slowing, components maker
Sundaram Fasteners is fastening its grip on the US market. The decline in rupee & the growth ( 2 to
3%) in the US are helping exports to the US.
China, where Sundaram Fasteners, set up manufacturing
plant six years ago, is also in recession mode.
The investments in China have been done in phases:
1.
By diverting production from
India, to start with
2.
Supplying to global
manufacturers with presence in China
3.
Attempting now, in the 3rd
& most difficult phase, to supply to Chinese car makers
The company is
now investing China with a long term
objective , looking 25 to 30 years from now.
source THE
HINDU BUSINESS LINE Aug4,’12
