Manohar Bidaye, Chairman, Zicom Electronics, says the company is setting up a Hong Kong subsidiary, Zicom Manufacturing with an investment of USD 2 million. The Hong Kong subsidiary will help in sale of overbranded products.
The company recently bought 49% stake in Dubai-based Unisafe Fire Protection.
Regarding the financial target for FY08, Bidaye says, the company will continue with the 78-80% growth rate, which it posted during past two years.
Bidaye says the company is looking for a couple of acquisitions, but will not be able provide details at this juncture.
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