CHENNAI: Sundaram Fastners Ltd, part of the USD 8.5 billion TVS Group, on Wednesday said it has set up a unit to produce high precision engineering components for giving an impetus to its exports besides diversifying customer base.

The new unit at Sri City in neighbouring Tada at Nellore district in Andhra Pradesh has been set up at an initial investment of Rs 100 Crore and it would manufacture and export high precision engineering components to a leading manufacturer in Europe for onward supply to global OEM customers.

The unit has commenced commercial production and has made the first shipment to Germany on January 27.

Greenlam Industries To Invest Rs 175 Crore

NEW DELHI: Laminate manufacturer Greenlam Industries is said to invest Rs 175 Crore to set up a manufacturing facility at Naidupeta ,Nellore in Andhra Pradesh, for manufacturing of Laminates and allied products ,the company said on Wednesday.

The new unit would add 1.50 million laminate sheets/boards per annum of the company which will cater to the growing demands in the domestic and international markets, it said.

GSL has been provisionally allotted by Andhra Pradesh Industrial Infrastructural Corporation (APIIC), land admeasuring 65 acres approx in Naidupeta, Nellore, Andhra Pradesh.

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