Industry News

Sundram sells Peiner 10 June 2016

As part of a restructuring of its international holdings Sundram Fasteners Ltd (TVS Group) has divested its entire shareholdings in Peiner Umformtechnik GmbH.

Sundram has also sold associated companies TVS Peiner Services GmbH, and PUT Grundstucks GmbH. The wholly owned subsidiaries are being sold to AURORA Hanse Industriekapital-Beteiligungs GmbH for a consideration of one euro. Sundram reported Peiner made a loss after tax of 238 million rupees (approximately 3 million euros) in the year ending December 2014. It put the business’ net worth at 490 million rupees (approximately 6.5million euros).
Sundram created a new subsidiary, Sundram International Ltd, to which Sundram Fasteners (Zhejiang) Ltd and Cramlington Precision Forge Ltd in the UK have become subsidiaries. 2014 sales for the two companies were equivalent to slightly more than 30 million euros.

Content Director

Will Lowry Content Director t: +44 (0) 1727 743 888

Biog

Will joined Fastener + Fixing Magazine in 2007 and over the last 15 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.

Will manages the content strategy across all platforms and is the guardian for the high editorial standards that the Magazine is renowned.