Sundram Fasteners says it will invest around Rs 400 cr in next 2 years

Government's production linked incentive scheme will be good for the automotive sector, says firm

Auto components major Sundram Fasteners (SFL) plans to invest Rs 400 crore in fasteners and defence in the next two years.

The company told its annual general meeting it will make an additional investment of Rs 300 crore in fasteners, where is it has a market share of 35-40 per cent. The company, in financial year 2021-22, doubled its exports of assembly wheel nuts for commercial vehicles in the United States. The company said that it has expanded its range in the wind segment fasteners and has also started exporting fasteners for the wind segment. In the defence sector, it is