<p>"Our aim is to make fasteners for all metal moving industries. However, the aerospace sector is very challenging and we may take around two years to enter this segment," V.G. Jaganathan, president (finance) of Sundram Fasteners, said.<br /><br />Part of the TVS group, the Rs 1,265-crore Sundram Fasteners will likely set up a new plant to produce aerospace fasteners, he said, but added that the location of the plant will be decided later.<br /><br />Jaganathan also refused to divulge the investment details saying "nothing has been finalised yet".<br /><br />"Decisions on plant outlay and location will be taken later. One has to first study in detail the quality of the equipments that have to be installed." <br /><br />Asked about the company's expectations for the current fiscal, Jaganathan said: "The topline will be flat but profits will be better than last year's Rs 17.41 crore." <br /><br />Nearly 30 per cent of the company's fastener production goes to commercial vehicle manufacturers.<br /><br />According to him, the company earns more than 40 per cent from selling fasteners, around 10 per cent each from cold extrusions and powdered metal products and the balance from products like pumps, radiator caps and others.<br /><br />Speaking about the company's three major overseas subsidiaries, Jaganathan said they would post profits this year.<br /><br />The company's Chinese subsidiary Sundram Fasteners (Zhejiang) makes fasteners and bearing houses while the German company Peiner Umformtechnik manufactures large fasteners for heavy trucks, windmills, heavy industrial and construction equipment. <br /><br />Its British unit, Cramlington Precision Forge, makes hot and warm forged precision components.<br /><br />The three overseas subsidiaries posted a combined turnover of around Rs 495 crore in 2008, with Piener accounting for around Rs 400 crore, Cramlington Rs 55 crore and Sundram Fasteners China Rs 40 crore.<br /><br />The Chinese subsidiary is expected to do better this year as the market has started recovering, Jaganathan said.</p>
<p>"Our aim is to make fasteners for all metal moving industries. However, the aerospace sector is very challenging and we may take around two years to enter this segment," V.G. Jaganathan, president (finance) of Sundram Fasteners, said.<br /><br />Part of the TVS group, the Rs 1,265-crore Sundram Fasteners will likely set up a new plant to produce aerospace fasteners, he said, but added that the location of the plant will be decided later.<br /><br />Jaganathan also refused to divulge the investment details saying "nothing has been finalised yet".<br /><br />"Decisions on plant outlay and location will be taken later. One has to first study in detail the quality of the equipments that have to be installed." <br /><br />Asked about the company's expectations for the current fiscal, Jaganathan said: "The topline will be flat but profits will be better than last year's Rs 17.41 crore." <br /><br />Nearly 30 per cent of the company's fastener production goes to commercial vehicle manufacturers.<br /><br />According to him, the company earns more than 40 per cent from selling fasteners, around 10 per cent each from cold extrusions and powdered metal products and the balance from products like pumps, radiator caps and others.<br /><br />Speaking about the company's three major overseas subsidiaries, Jaganathan said they would post profits this year.<br /><br />The company's Chinese subsidiary Sundram Fasteners (Zhejiang) makes fasteners and bearing houses while the German company Peiner Umformtechnik manufactures large fasteners for heavy trucks, windmills, heavy industrial and construction equipment. <br /><br />Its British unit, Cramlington Precision Forge, makes hot and warm forged precision components.<br /><br />The three overseas subsidiaries posted a combined turnover of around Rs 495 crore in 2008, with Piener accounting for around Rs 400 crore, Cramlington Rs 55 crore and Sundram Fasteners China Rs 40 crore.<br /><br />The Chinese subsidiary is expected to do better this year as the market has started recovering, Jaganathan said.</p>
