Sundram Fasteners (Powertrain Components Division) recognized by General Motors as a Supplier of the Year
SFL supplies key products to GM, including transmission shafts, radiator caps and others
Chennai, March 30, 2022 – Sundram Fasteners Limited (SFL’s) Powertrain Components Division has been recognized as Supplier of the Year by General Motors (GM) under its 30th Annual Supplier of the Year awards. This is the ninth time the Chennai-based auto component major has received the coveted recognition, underscoring its consistent excellence in the quality and ability to meet global engineering benchmarks.
The reputed American automaker has honoured 134 of its suppliers from 16 countries with supplier of the year distinction in 2021. The awards are an acknowledgement of global suppliers that have distinguished themselves by exceeding GM’s requirements, resulting in providing GM customers with innovative technologies and high quality.
Ms Arathi Krishna, Managing Director, Sundram Fasteners Limited, said, “We are pleased to receive this prestigious award from General Motors, a global leader in the automobile sector. This recognition is a validation of our commitment to quality, safety, innovation, sustainability and excellence. The fact that we have received this award for the ninth time demonstrates our ability to exceed customer expectations consistently.”
“The GM award truly epitomizes our journey over the years, specifically the efforts in new product development, R&D and technology. This award encourages us to develop technology-backed new products every year. I would like to congratulate my entire team at Sundram Fasteners and all our suppliers who have helped us to get this recognition consistently year on year” said Ms Arathi Krishna.
“This year’s Supplier of the year event was special not only because it’s the 30th Anniversary of the program, but it also provided us with the opportunity to recognize our suppliers for persevering through one of the most challenging years the industry has ever faced”, said Shilpan Amin,
Vice President, Global Purchasing and Supply Chain, General Motors. “The top suppliers showed resilience and reinforced their commitment to pursuing sustainability and innovation. Through our strong relationships and collaboration, GM and our suppliers are posed to build a brighter future for generations to come”, added Amin.
Winners of the Supplier of the Year awards were chosen by a global team of GM purchasing, engineering, quality, manufacturing and logistics executives. Parameters for evaluation were Product Purchasing, Global Purchasing and Manufacturing Services, Customer Care and Aftersales and Logistics.
Sundram Fasteners supplies key products to GM, including transmission shafts, radiator caps and more, which are seen across prestigious GM brands like Cadillac, GMC and Chevrolet. The company has been a GM vendor for over 25 years and has won the Supplier of the Year award five times in a row from 1996 to 2000, and in 2009, 2019, 2020 and now, in 2021.
SFL gets approval from MHA under PLI Scheme
The Ministry of Heavy Industries (MHA) vide its letter dated March 22, 2022 has approved the application submitted by the Company under Component Champion Incentive Scheme of the PLI Scheme.
The PLI Scheme aims in building a robust supply chain in areas of Advanced Automotive Technology (AAT) components. The eligibility criteria require minimum investment of Rs. 250 Crores over 5 years with atleast Rs. 100 Crores in the initial two years.
The Company, out of capital expenditure amounting to Rs 2,000 crores planned over a period of next
5 years, has a projected investment of over Rs 350 Crores for manufacturing Advanced Automotive Technology (AAT) components like powertrain sub-assemblies for Electric Vehicles (EV) and select Internal Combustion Engine (ICE) vehicles. The Company has secured firm orders from Global OEMs for supply of these components under their EV programs.
Ms Arathi Krishna, Managing Director, said, the PLI scheme will benefit the sector in multiple ways by increasing localization and make India an export hub in the global auto supply chain. We are setting aside around INR 350 Crores for the manufacture of advanced automotive technology components for the next five years.”
About Sundram Fasteners
Sundram Fasteners Limited (BSE: 500403 and NSE: SUNDRMFAST) a Company headquartered in Chennai, India has established a track record of leadership over 50 years. With a diversified product line, world-class facilities in 3 countries and a motivated team of talented people, Sundram Fasteners has become a supplier of choice to leading customers in the automotive segments worldwide.
The product range consists of high-tensile fasteners, powder metal components, cold extruded parts, hot forged components, radiator caps, automotive pumps, gear shifters, gears and couplings, hubs and shafts, tappets and iron powder. Over the years, the Company has acquired cutting-edge technological competencies in forging, metal forming, close-tolerance machining, heat treatment, surface finishing and assembly.
