Sanmar Engineering Corporation (SEC) turned 25 on June 30, 2001. The success story of SEC, an informal group of light engineering and technology-intensive companies in the Sanmar group, lies in its unique approach to foreign partnership. This is the message, that came through in the speeches of leaders of the group and their eminent guests at the launch of SEC’s silver jubilee celebrations at Park Sheraton, Chennai. At the launch of SEC’s Silver Jubilee Celebrations, N Rangachary, Chairman, Insurance Regulatory and Development Authority (IRDA), the chief guest said that, “SEC had developed joint venture partnership as a fine art.”
In his welcome address accompanied by a Power Point presentation, N Sankar said: “The strategy of the SEC group companies lay in their choice of world leaders in particular product lines – all of these products catering to process industries and petrochemical, pharmaceutical and power plants.” George A Shedlarski, Vice President, Flowserve Corporation, U.S., (earlier Durametallic), SEC’s first foreign partner, said, mutual trust, a professional approach to business and a shared vision, besides availability of adequate working capital, lay behind the success of his company’s ties with SEC. B Narayan, Group Senior Executive Vice President, Reliance Industries, said joint ventures could succeed only if the partners were chosen carefully and both sides “continued to need each other”.
V L Dutt of KCP, R Sivaramakrishnan, S Balasubramanian, G S Raju, R Ramanujam of Brakes India and Mrs Balasubramanian seen with
K S Narayanan.
Trevor Vindin of Ascomation and Mike J Sandling of Xomox Corporation.
George Shedlarski of Flowserve Corporation at the inauguration.
Dignitaries at the inaugural function.
J T Kenneally of BS & B Safety Systems and B Narayan.
George Shedlarski in conversation with pressmen.
N Sankar, B Narayan and M N Radhakrishnan of Sanmar Engineering Corporation.
B Natraj, S V Mony of AMP Sanmar Assurance Company Ltd., and N Rangachary of IRDA with N Sankar and N Kumar.
A section of the audience at the SEC Silver Jubilee Celebrations.
N Sankar delivering the welcome address.
Venu Srinivasan, TVS group (extreme right) and
Professor Marty Subramanian, New York University
(second from right) with other guests.
K S Narayanan, M V Subbiah of the Murugappa
group and A Krishnamoorthy of the Amalgam
ations group.
"B Narayan, Group Senior Executive Vice President, Reliance Industries emphasised the need for ·continuous review of customer strategy· on the part of suppliers and stressed the importance of transparency in pricing."
B Narayan of Reliance Industries addressing the
gathering.
K V Ananthakrishnan of Asco (India) Limited and
Trevor Vindin.
Mathew Kenneally, Dr Joseph Izzo of BS & B Safety
Systems and Vijay Sankar.
"In the present competitive scenario, when excess capacities are being built and customers are demanding, only those who are very efficient would be able to survive, be it in the manufacturing or service sector,· the IRDA Chairman, N Rangachary, observed"
N Rangachary receiving a memento.