Sundram Fasteners Limited (SFL) has been awarded Supplier of the Year by General Motors (GM) through its 29thAnnual Supplier of the Year awards. This is the eighth time that Sundram Fasteners Limited has received this award.
The reputed American automaker has honoured 122 of its suppliers from 16 countries for supplier performance in the calendar year 2020. The awards are an acknowledgement of global suppliers that have distinguished themselves by exceeding GM's requirements, resulting in providing GM customers with innovative technologies and high quality.
Ms Arathi Krishna, Managing Director, Sundram Fasteners Limited, said, "We are pleased to receive this prestigious award from a highly esteemed customer like General Motors. This recognition is a validation of our commitment to quality, innovation, sustainability and excellence. The fact that we have received this award for the eighth time demonstrates our ability to exceed customer expectations consistently."
"Despite the pandemic related challenges in 2020, we managed to deliver excellence by adroit stock and inventory management, prudent manufacturing planning and intelligent logistics coordination, without compromising the health and safety of our people," Ms Krishna added.
"As GM works to achieve a future with zero crashes, zero emissions and zero congestion, we are proud to have innovative and dedicated suppliers around the world as partners in this mission," said Shilpan Amin, GM Vice President, Global Purchasing and Supply Chain. "Throughout a challenging year, our suppliers have showed resilience and dedication in working toward our shared goal of long-term sustainability for our planet and the communities we serve while meeting our present needs," added Amin.
Winners of the Supplier of the Year awards were chosen by a global team of GM purchasing, engineering, quality, manufacturing and logistics executives. Parameters for evaluation were Product Purchasing, Global Purchasing and Manufacturing Services, Customer Care and Aftersales and Logistics.
Sundram Fasteners supplies key products to GM, including transmission shafts, radiator caps and more, which are seen across prestigious GM brands like Cadillac, GMC and Chevrolet. The company has been a GM vendor for over 25 years and has won the Supplier of the Year award five times in a row from 1996 to 2000, and in 2009, 2019 and now, in 2020.
Shares of SUNDRAM FASTENERS LTD. was last trading in BSE at Rs.806.5 as compared to the previous close of Rs. 790.1. The total number of shares traded during the day was 8988 in over 756 trades.
The stock hit an intraday high of Rs. 848 and intraday low of 788. The net turnover during the day was Rs. 7343632.