Sundram Fasteners Chooses the New Owner for Its German Subsidiary

Sundram Fasteners has decided to exit from its German operations managed by its wholly owned subsidiary Peiner Umformtechnik and its affiliates. Sundram has chosen Hanse Industriekapital-Hamburg as the new owner in consideration of their experience in the German industry as well as their being a successful private equity player. Sundram believes that the new German shareholder is well suited to meet the needs of Peiner, its suppliers and its customers. We are sure they will competently take Peiner to a successful future.

Sundram is thankful to the Peiner management for its full support during the process of finding a new owner. Sundram wishes the new owner Hanse Industriekapital-Hamburg, the Peiner management team and all the employees all success for a prosperous future.