Bangalore, Feb 13 (UNI) Centum Frequency Products, a subsidiary of Centum Electronics, has entered into a joint venture with the New Zealand-based Rakon to design and manufacture frequency control products (FCP) alongside its existing product lines in the city.
Centum Electronics would hold 51 per cent stakes in the JV, to be named Centum Rakon Pvt Ltd, and Rakon the rest, Centum Managing Director Apparao Mallavarapu said today.
Speaking at a press conference here, he said ''the JV is likely to achieve sales of over Rs 100 crore in the next two to three years. Racon will have exclusive rights to sell products manufactured by the JV outside India and Centum within India.'' With the addition of oven controlled crystal oscillator (OCXO), Centum would be one of the companies in the world to have the technology, he said.
Rakon Managing Director Brent Robinson said ''moving some of our manufacturing capacity to India is consistent with the constant evolution of our international manufacturing model and our objective of having a highly competitive, world leading cost base.'' The JV would settle in late March with the manufacturing of select products, currently being undertaken in France, moving to India over a six-month period.
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