Incap Contract Manufacturing Services Pvt Ltd, a subsidiary of Incap Corporation, Finland, expects its electronics manufacturing services business in India to double in its first year of operations and sustain a 50-100 per cent growth in the coming years.
Incap Contract today finalised a Rs 41.12-crore deal acquiring the TVS Electronics Ltd contract manufacturing unit at Tumkur, 80 km west of Bangalore.
Briefing reporters on Incap Corporation's plans here, Mr Juhani Hanninen, President and CEO, Incap Corporation, said that this was the company's first facility outside Europe.
The € 89-million (Rs 480 crore) Incap Corporation expects to double its business by 2010 with more than half its revenues coming from facilities outside Europe. The company manufactures electronics and mechanical components and equipment for use in industrial electronics, electrical power technology, telecommunications, healthcare and security.
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