CIPSA India to infuse ten million USD for expansion

Bangalore, May 14 (UNI) After accomplishing huge success in the first year of its establishment, PCB maker CIPSA India, a subsidiary of CIPSA Spain, today announced infusion of ten million US Dollars for its expansion.

Speaking to newspersons here, Company Vice-Chairman Anil Gupta, said, ''having achieved a turnover of ten million dollars in the very first year of operation, we are aiming to double the turnover to 20 million dollars in the current fiscal. We are expanding to increase our production capacity by four times to 40,000 sq m per month. The third plant, near Bangalore, will be ready for operation by March next year.'' According to Taiwan Printed Circuit Association (TPCA) study, the demand for PCBs in India, would be 535 billion dollars by 2008, but the availability would be only to the tune of 110 billion dollars. At present, the gap was met through imports, mainly from China. ''We want to cash in on this gap. Keeping this mind we have designed our growth plan,'' he informed.

Company Managing Director Alok Garg said CIPSA India was planning to manufacture Silver Crossover PCBs in its proposed third plant.

CIPSA Spain Chairman Evarista Michavila said the Indian venture was a great success. ''It is for the first time the company entered into a joint venture outside Spain and it was a stupendous success.

The Karnataka Government was extremely helpful and supportive.

We are sure that together we can put Bangalore on the global PCB map and help the country to attract more FDI,'' he said.

UNI