Financial Daily from THE HINDU group of publications
Tuesday, Jan 03, 2006


Group Sites

Corporate - Outlook

Sun Industries plans tie-up with US co

Our Bureau

Chennai , Jan. 2

SUN Industries, a Chennai-based auto component company, plans to set up a joint venture with an American company to which it is now supplying components.

Mr Nagu Chidambaram, Chief Executive Officer, Sun Industries, said the new company was likely to be set up by the middle of 2006. He did not want to disclose the name of the American client with which Sun would form the joint venture citing confidentiality clauses.

He said the US company had visited Sun Industries, whose facilities are located in suburban Porur, at least six times and also held discussions with him on the possibility of a joint venture. "They have put in money. We are working on the joint venture," he said.

Sun Industries makes sheet metal components and exports to tier 1 suppliers. Its exports are to the US, South America and it hopes to begin exports to Europe shortly. In 2005-06, it hopes to double its turnover to Rs 10 crore with exports accounting for half of it.

Mr Nagu Chidambaram, who was one of the recipients of the Prime Minister's entrepreneur of the year award, said the company was looking for a five-acre property to set up a plant on the city's outskirts.

More Stories on : Outlook

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
BHEL gets Rs 800-cr order from Nalco for captive power plant

Videocon plans mega FCCB issue to fund expansion
Madras Cements plant voted greenest in India
Reliance Cap, Ventures swap ratio at 5:100
Ruia group to take over two sick Orissa PSUs
US firm picks up 51 pc stake in ICI's rubber chemicals biz
Adherence to Clause 49: IOC convenes EGM to induct more independent directors
Employees protest against closure of mining operations at Kudremukh
Indian Seamless inks pact for a jt venture project in Australia
Sree Sakthi Paper targets 10% market share in South
7 killed in clash at Tata Steel project site in Orissa
Sun Industries plans tie-up with US co
Sanjay Dalmia: His goals remain strictly in business
Jessop upbeat about higher profits
Bajaj Auto December sales up
TVS two-wheeler sales up 11 pc
New CMD for Hind Latex

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line