CIPSA India to invest ten million dollars on expansion

Bangalore, May 14 (UNI) After achieving big 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 Vice Chairman Anil Gupta, said, "having achieved a turnover of ten million dollars in the very first year of operation, we are targetting a turnover of 20 million dollars in the current fiscal. We are expanding to reach increase our production capacity by four times to 40,000 sq m per month.

Third plant will be ready for operation near Bangalore by march next year." He said that according to a study by Taiwan Printed Circuit Association (TPCA) the demand for PCBs in India would be 535 billion dollars by 2008, but 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 chalked out our growth plan," he said.

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

CIPSA Spain Chairman Evarista Michavila said that the Indian venture was a great success. "It was for the first time company entered into a joint venture outside Spain and it was a great success. The government of Karnataka was extremely helpful and supportive. We are sure that together we can put Bangalore in the global PCB map and help the country attract more FDI," he added.

UNI