TAMIL NADU

Sakthi Group forges ahead

Staff Reporter

COIMBATORE: Known for the entrepreneurship, this city had one more exemplary investment experience to listen to on Friday.

M. Manickam, the chairman and managing director of Sakthi Auto Component Limited, spoke on “Moving up the Next Orbit – Sakthi Group Experience” at a meeting organised by the Confederation of Indian Industry, Coimbatore District Small Industries Association, Institute of Indian Foundrymen and the Southern India Engineering Manufacturers’ Association.

The Coimbatore-based Sakthi Auto Component acquired Intermet Europe, a group of companies, from Intermet International earlier this year for Rs. 532 crore.

The annual production capacity of these European plants was 1.65 lakh tonnes of castings.

In the last two years a lot of Indian companies were buying units in the U.S. and the European Union. “It is a world of experience,” he said.

The western companies had a long-term relationship in business and “What we have to learn from these companies is their work ethics,” he pointed out.

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