syrma plans $18-million expansion - battery management unit
The ₹200-
Crore Syrma Technology Pvt. Ltd.
Plans to invest $18 million over the next three yearsto-
A senior official said that as part of the expansion plan, the two factories have increased production capacity for four years.
"We will invest $10 million in the Madras Export Processing Zone for expansion," said Sreeram srinowski, CEO of San Jose and Chennai --
Based on Syrma technology.
"The balance will invest in our fifth unit in Bawal, Haryana, to produce printed circuit boards (PCBs)
Facing the domestic market.
"The new sector will focus on the industrial, aviation, defense and healthcare sectors," he said . ".
Electronic products company manufacturing pcb, radio frequency identification (RFID)
Label and box building plans for export markets doubled Chennai's production capacity and the company is building new production lines for PCBs at a cost of $2.
$5 million to $3 million (
In the $10 million Chennai investment)
Due to increased orders.
The remaining $7 million will be used to build RFID and other production lines.
The PCB facility will then be transferred to Haryana.
According to him, due to the trade war between the United States and the United States, global electronics manufacturers are looking for alternative countries to purchase products/componentsS. and China.
This guaranteed their expansion at Chennai's factory.
Syrma Technology has three factories in Tamil Nadu and one in Maharashtra and Haryana.
When asked about their focus areas
They will focus on smart city projects, the automotive industry, and smart solutions for the solar and wind industries, srinowski said.
"In the automotive industry, we will focus on battery management systems for electric vehicles and vehicle tracking systems for commercial vehicles.
We hope to earn at least 25% of our revenue from the industry over the next three years.
"Our products in smart city projects will involve power facilities such as smart lighting systems and smart metering systems," he said . ".
Last year, the company received revenue of 200 200 crore, and this year it hopes to reach 300 300 crore.
The company earns 80% of its revenue through exports, which will drop to 65% in the next two years due to increased focus on domestic market products.