Tata Electronics Private Limited (TEPL) on Friday announced to control a 60 percent stake in Taiwan’s contract maker Petron India Unit, strengthening his position as a leading player in the Indian electronics manufacturing sector.
The financial statements of the transaction were not disclosed.
Petron India is a subsidiary of Taiwanese Patron Corporation, which is engaged in the provision of contract-based electronics manufacturing services (EMS) to global giants such as Apple.
The latest deal is expected to strengthen the position of TATA as an Apple supplier and strengthen your iPhone manufacturing plans.
Announcing the acquisition of a 60 per cent stake, Tata Electronics said that Petron Technology India will have to undergo rebranding to reflect its new ownership structure and commercial direction while continuing to distribute high quality electronics manufacturing services.
The latest steps by the Electronics Arm of the Salt-to-Software Group follows the acquisition of Wistron’s India Operations (located in Narspura, Karnataka) a year ago in March 2024, a year ago.
In fact, in its New Year’s message for employees, Tata Sons president N Chandrasekaran said that India’s side with global supply chains continues to change as the world’s largest business makes a new balance between flexibility and skills. , Manufacturing has the ability to change the country. economy.
Chandrasekaran called it “a new manufacturing golden age for India”.
On Friday, Tata Electronics CEO and MD Randhir Thakur said that the acquisition of majority stake in Patron Technology India fits the strategy of increasing Tata Electronics’ strategy to increase its manufacturing footprint.
“We are ready for a new era of AI, digital and technology -led constructions because we bring these new features and expand our operations in India,” Thakur said.
In addition to TEPL to get majority stake in Petron Technology India, both companies will work on integrating their teams to work originally.
The Tata Group is scripting an aggressive blueprint for electronics and semiconductor manufacturing.
Tata Electronics is building India’s first fab in Gujarat, Gujarat, with a total investment of Rs 91,000 crore. In addition, another Rs 27,000 crore will be invested in Jagrode, a greenfield facility in Assam, for testing the assembly and semiconductor chips. Together, these features will produce semiconductor chips for applications for automotive, mobile devices, artificial intelligence (AI), and other major segments to serve customers globally.
Chandrasekaran said in October last year that the Tata group will create 5 lakh manufacturing jobs in the next five years in areas such as semiconductor, electric vehicles, batteries and related industries.
Tata Sons’s top honor had said that India cannot achieve the goals of being a developed nation if the country cannot make manufacturing jobs.
© Thomson Reuters 2024
