Chennai-based automotive components manufacturer Sundaram Brake Linings Ltd (SBL) is planning to invest around Rs 21.50 crore in expanding the capacity of its friction material unit. The company has decided to increase the capacity of friction material to 23,000 tonnes from the existing 20,000 tonnes.
Of the proposed investment, the company would borrow around Rs 17.50 crore from banks and the balance would be met through internal accruals.
The expansion is expected to be completed by the third quarter of 2010-11. The expansion will enable SBL to cater to the growing export and domestic demand, the company informed the Bombay Stock Exchange on Tuesday.
