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Delta Elec penetrates Indian market 'invest $50 m'
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July 15, 2008 by Bupha Ravirot
Delta Electronics (Thailand) Plc, the country's biggest listed electronics business penetrate Indian market due to a strong need for electronic products of people. The company is planing to invest about $50 million next year for its expansion in India.
Anusorn Muttaraid, the company's executive director said
''We've already invested about 300 million baht in India and are preparing to allocate $50 million more to set up a new plant in Chennai,''
'India is a very promising market and its tax incentives are very attractive. Our investments are granted a tax holiday for five years and a 50% tax cut for another five years,''
'On top of that, India allows 100% foreign ownership and tax waivers are also available for imported machinery if the plants are located in industrial estates."
Delta Power Solutions India Private Ltd in 2007 the later set up to assemble market and sell telecom power systems, uninterrupted power supply (UPS) units and other products.
Two plants of Delta company are going to be operated, one is to make telecom power supplies and UP units in Rudrapur in Uttarakhand state in northern India and the other plan is to make telecom power supplies and magnetic components in Pondicherry in Tamil Nadu state which is going to be started on August 28 with output destined mainly for China.
The company is talking to the central government of the location in Chennai make low-end electronic components to supply the group's production base in Slovakia. Mr. Anusorn said.
The sale rates of the year 2007 were impressive and outstanding, more than doubling to $96 million and at the end of this year the rate are expected to $150 million, about $2-5 million from exports. Said Mr. Anusorn.
Indian market is one of the world' fastest growing economies and the demand for electronic products and high technology is so strong. Delta Electronics therefore has set a target to raise its sales in India to top $1 billion over the next seven years.
Delta Electronics reported that due to an appreciating baht against the US dollar, the sales decreased from 43.55 billion baht the year earlier to 33.76 billion baht last year. But its profits increased very high from 1.96 billion baht in 2006 to 3.15 billion in 2007. And this year, Delta expected the sales would increase by at least 20%.
Delta shares closed on Friday on the SET at 20.70 baht, down 20 satang, in trade worth 1.87 million baht.
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Delta Electronics (Thailand) Plc, the country's biggest listed electronics business penetrate Indian market due to a strong need for electronic products of people. The company is planing to invest about $50 million next year for its expansion in India.
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