Incap to set up brownfield unit

Bangalore, Sep 19 (UNI) To tap the growing Indian electronic market, Incap Contract Manufacturing Services, a subsidiary of Finland-based Incap Corporation, will set up a brownfield unit at its Tumkur plant, about 60 km from the city.

Briefing newspersons on the company's expansion plans in India, Incap Corporation President and CEO Juhani Hanninen said the company had acquired the Tumkur unit of TVS Electronics in May this year for Euro 7.4 million.

''India plays a critical role in our global strategy. Our goal is to double our Indian business. The revenues from India is expected to touch Euro six million during June-December 2007,'' he said.

The US Dollar 13 billion Indian electronic industry was growing at 25-30 per cent and the outsourcing industry was set to clock a growth of 30 per cent this year, he added.

UNI