Sterling Tools (STL), originally incorporated as a private limited company has became a public limited company in Oct. '94., engages in manufacturing high-tensile (HT) fasteners mainly for automobiles. The plant of the company is situated at Faridabad.
STL which has started it's commercial production in 1981 has increased it's installed capacity in stages over the years to level of 7500 MTPA as on 2000-01. It has completed an expansion project in the year 1995-96 by which the installed capacity for manufacturing HT Fasteners increased from 4000 tpa to 6600 tpa at a cost of Rs.10 crore mainly funded through its maiden public issue in Apr 1995. Further in 1996-97 and 2000-01 the capacity has expanded by 400 tpa and 500 tpa respectively.
The company supplies to diverse segments in the auto sector like two- and four-wheeler passenger transport, goods transport, tractors and farm equipment. Over the years, its clientele has expanded to include most of the major automobile OEMs. It's client list includes Eicher, Escorts, Bajaj Auto, Maruti Udyog, Hero Honda and Telco.
STL has created a niche for itself as a supplier to the leaders in the various segments of the automobile industry. The company is the largest supplier of HT fasteners to Hero Honda and the second-largest supplier to Maruti, Bajaj Auto and TELCO.
STL known in the industry for it's indigenous development of requisite technical skill for 14 years has wide product range which includes over 2000 types of fasteners ranging from 5 mm to 24 mm in diameter.
The company obtained ISO 9002 certification during 1998 and QS 9002 during 1999-2000. It is in the process of installing spherodising and annealing facility for raw materials viz. steel wire rods / wires. STL is also trying to penetrate the export markets in UK, Germany, France, Belgium and Italy.