Sundaram Fasteners to buy German firm

By agencies   |   Thursday, 10 November 2005, 20:30 IST
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MUMBAI: Indian auto components maker Sundram Fasteners Ltd today said it would acquire 10 percent stake German auto parts maker Peiner Unformtechnik GmbH, a subsidiary of Germany-based company Textron Deutschland Beteilingungs GmbH. According to a release issued by Sundaram Fasteners to the NSE today, the company is planning to sign an agreement with Textron Deutschland for the acquisition. Peiner manufactures a wide range of fastener products catering to the automobile, industrial and construction sectors, the release added.

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