Sundram Fasteners to expand capacity: To leverage Malaysian unit to tap Asean market.

(From Business Line)

Chennai, Aug. 16. SUNDRAM Fasteners Ltd plans to expand capacities at its plants in Chennai, Madurai, Pondicherry and Hosur. It also plans to leverage its subsidiary company in Malaysia to tap the Asean (Association of South East Asian Nations) market.

Mr Suresh Krishna, Chairman and Managing Director, Sundram Fasteners, told shareholders at the annual general meeting on Monday that the enhanced capacities at the four plants will be in place later this year. Last year, the company's performance would have been better but for the steep increase in steel prices and capacity constraints.

Sundram Fasteners would strengthen the …