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Our Correspondent

Madurai , Sept. 27

THE Madurai unit of Sundram Fasteners Ltd has plans for expansion.

Indian auto-component exports are likely to go up from $1 million at present to $2 million in the next five years, according to the Chairman and Managing Director, Mr S. Suresh Krishna.

Speaking to the press persons here he said, the company hopes to make inroads into China and Europe. Sundram Fasteners has a manufacturing facility in China. Last year, it acquired a precision forging plant in UK. He said the company's success owed much to the involvement of labour. In 2004-05, the company hopes to earn about Rs 850 crore, he said.

Mr Suresh Krishna was in the city to participate in the 15th anniversary celebrations of the company.

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