Sundram Fasteners acquires Upasana Engineering
Thursday, December 13, 2007Sundram Fasteners has acquired 100% equity share capital of Upasana Engineering (UEL), a step-down wholly-owned subsidiary at cost from Sundram Fasteners Investments, a wholly-owned subsidiary of the company.
Consequent to acquisition of the equity shares, UEL has become a wholly-owned subsidiary of the company with effect from 12 December 2007. UEL manufacture spokes and nipples, tools and other and components at its two units located in Chennai and Hosur, both in the State of Tamil Nadu.
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