Intex scouts for jt venture partner
IT peripherals and electronics firm Intex Technologies is on the look out for a joint venture partner to manufacture audio/video products and power electronics in India.
“We intend to set up a base for manufacturing audio/video products such as high-end sub-woofers, DVD players and home theatres; and power electronics such as SMPS for computers and UPS systems,” Mr Ramesh Vaswani, Executive Vice-Chairman, Intex Technologies, said on the sidelines of a news conference today.
Currently, Intex manufactures sub-woofers for multimedia computers at its Jammu unit. The company imports audio and video products from China and other geographies.
Co-branding route
Intex intends to initiate discussions with European and Chinese original equipment manufacturers with strong technology expertise and presence in geographies other than India. “We are open to take the co-branding route,” added Mr Vaswani.
The company will freeze the joint venture partner by July next year, added Mr Sudhir Kumar, Zonal Manager (North & West India).
Intex is present in eight business segments such as PC, entertainment electronics, power electronics, computer electronics, and GSM mobile phones, among others.
Revenue target
Riding on the back of increased demand across all its product lines, the company expects to clock around 50 per cent rise in revenues to Rs 380 crore by the end of the current fiscal, from Rs 260 crore in the year ago quarter.
The company has been maintaining its revenue at a compounded average growth rate of 50 per cent over the last five years, said Mr Vaswani.
Intex feels that Western India will contribute the highest to its expected turnover this year. “We expect revenues of Rs 115 crore from the western region, as adoption of technology is very fast in this region. PC and consumer electronics will be major growth drivers for the company,” added Mr Vaswani.
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