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Phoenix Mecano launches electronic contract division <br><br>
Express News Service<br>
Pune, November 10: INDO-SWISS JV Phoenix Mecano (India) Ltd on Wednesday announced the launch of their electronic contract manufacturing division and their first contract to manufacture Global Positioning System (GPS) devices for Mumbai-based Quantum Designs. This was part of the inauguration of their manufacturing facility at Pirangut Industrial Estate.
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Phoenix Mecano (India) Ltd, of which 96 per cent share holding lies with 350 million-Euro Switzerland-based Phoenix Mecano AG, had its new division inaugurated by Benedikt A Goldkamp, delegate of the Board of Directors and CEO, Phoenix Mecano AG.
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The first contractee — Quantum Designs — is a software solutions provider in telecommunications, hospitality, networking and tracking, and is currently providing real time tracking solutions to several banks in India.
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Phoenix Mecano (India) managing director R Shrivastava added that the company also plans to take over sales of the tracking solutions for Quantum, apart from manufacturing the GPS devices required for the same. However, the initial thrust will be on manufacturing, with a target of 6,000 units costing Rs 10 crore in the first year of operations.
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The company plans to sell the tracking solutions to customers in India and the Middle East, through direct selling and channel partners, Shrivastava said.
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The electronic contract manufacturing division is the latest addition to services provided by Phoenix Mecano (India), which already has an enclosures manufacturing division and a mechanical division. This is a new area that the company is entering into after consolidating their strengths.
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Manufacturing of enclosures (protective guard for critical electronic equipment) will be for both domestic and international market. Initially beginning with importing enclosures, the company has now begun manufacturing indigenously since 2000, but space constraints in Mumbai forced them to move to Pune, Shrivastava added.
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The company has a present turnover of one million euro, with a projected growth rate of 35 to 40 per cent. Phoenix Mecano (India) will also be sourcing components for their product line from India for the parent company, Shrivastava said.
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