Sundram Fasteners not keen to fly headlong into aeroparts biz

Resource from: Hindu Business Line Likes:2965

Aug 07,2012

Auto component maker Sundram Fasteners (SFL) is keen to add aero fasteners to its kitty but is wary of making a premature take-off. There is a world of difference between automotive fasteners and aero fasteners, which require a great deal of attention and top-notch quality, says Suresh Krishna, Chairman and Managing Director. “The auto fastener is on the ground all the time. If something goes wrong, the vehicle stops. But in aero fasteners, we literally have to do a piece-by-piece quality check. We do not want to get into it headlong,” he explains. SFL has been sending small samples (and some bulk too) for testing to aircraft manufacturers Airbus and Boeing. “We have to build confidence with them; they need to feel comfortable with us, whatever our pedigree may be. We are not rushing into it,” says Krishna. Airbus and Boeing currently buy from “reliable, established players” in Europe and America. While they want to “eventually buy from us, because of the price advantage, they are cautious. We are cautious too.” SFL is not looking at aero fasteners as a huge business for now. Nor will it be a “panacea for all downturn troubles,” says Krishna. “But it will grow over a period of time, we need to have patience. While the orders are already there, the validation and gestation period is fairly long. It will take 3-5 years.” The company is mainly looking to supply aero fasteners in Europe and America as aircraft production in India is negligible. The company has ruled out any technical collaboration for this business. “We know exactly what needs to be done. The raw materials are all available here or else they can also be imported. It is just a matter of the process taking time,” says Krishna.

(Hindu Business Line)

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