Sundram Fasteners acquires 52.94% share capital of SNES

Sundram Fasteners (SFL) has acquired 52.94% equity share capital of Sundram Non-conventional Energy Systems (SNES), a subsidiary of Sundram Fasteners Investments (SFIL) and Upasana Engineering (UEL), wholly-owned subsidiaries of the company.

Consequent to the acquisition of the equity shares, SNES has become a direct subsidiary of Sundram Fasteners with effect from August 27, 2008.

SNES is in the business of power generation through windmills in Tamil Nadu.