Sundaram Fasteners to buy German firm

Sundaram Fasteners is planning to acquire 100% stake in Peiner Umformtechnik GmbH, a subsidiary of Germany-based company Textron Deutschland Beteilingungs GmbH.

According to a release issued by Sundaram Fasteners to the NSE today, the company is planning to sign an agreement with Textron Deutschland for the acquisition.

Peiner manufactures a wide range of fastener products catering to the automobile, industrial and construction sectors, the release added.