Empower Industries to ink JV with SPS Inc of USA

Mumbai, Jan 15 (UNI) Empower Industries India is set to launch sophisticated power electronics products involving power conversion and regulation technology employed in Space satellite Research and Defence operations as mobile and tactical electric power.

The company informed BSE that this technology is embedded in a wide range of products such as High Powered Power Supply, Amplifiers and Comparators, Diodes and Rectifiers, Switches, Power Drivers and Controllers, Voltage Regulators, Transistors, Temperature management equipment, which are employed in commercial and industrial sectors as well, where power is conveniently manipulated to produce the required level of energy to operate high powered mechanical devices or machines or even to produce audio and visual display and digitally illuminated environment.

To start with the Company intends to manufacture High Powered Power supply and advanced Power Supply for LED televisions through a Joint Venture arrangement with an internationally renowned firm, viz SPS Inc, USA. These products are presently manufactured by ABB, Siemens and Emerson.

During the course of several deliberations, SPS Inc, who has won a five year global contract amidst stiff international competition for supply of the said products in USA, has approached the Company for technical and 100 per cent marketing arrangement under a Joint Venture with the Company.

Negotiations for a Joint Venture between the Company and SPS are in the final stages, after which the Company will set up a separate manufacturing facility for Power Supply and Power conversion equipment which are patented under various international laws.

The High Powered Power Supply contract accounts for a turn-over of Rs 70 crore in the next five years, whereas the sales generation for Power Supply for LED Televisions is placed at Rs 150 crore for the said period.

UNI