Sundaram Fasteners to go ahead with capex plan despite auto sector downturn

Manufacturing sector veteran and Sundram Fasteners chairman Suresh Krishna said that the company is not shying away from investments since it wants to be ready when economy and auto sector bounce back

Sundram Fasteners is going ahead with capex plans, confident that the sector is promising despited a slowdown. Besides, to address cyclical challenges, the company has started expanding in new segments like defence and aerospace.

Sundram Fasteners chairman Suresh Krishna said that the company is not shying away from investments since it wants to be ready when the economy and the auto sector bounce back. 

The auto industry is known for its cyclical nature, the last one being in 2008. Since then, its has had a good run.

"At some point, downturn will happen; we can't expect to keep growing. A