Elcoteq inaugurates a new plant in India

When fully operational, Elcoteq's Bangalore facility will employ approximately 1,000 people and manufacture products for global customers operating in India as well as the Asia-Pacific region. The construction of the facility was completed in a record time of nine months. The inauguration is a landmark not just for Elcoteq but also for India, as Elcoteq is the first high-volume electronics manufacturing services company in India for global communications technology customers. The products manufactured in Bangalore include terminal products like mobile phones and communications network equipment. The inauguration heralds the emergence of electronics manufacturing services in India and signals India's firm intention in establishing itself as a global manufacturing hub for telecommunications. Union Minister of Communications & Information Technology, Mr Dayanidhi Maran inaugurated the facility in the presence of Karnataka's Minister for Large and Medium Industries, Small-scale Industries and Infrastructure, Mr P.G.R. Sindhia, Elcoteq's Chairman of the Board, Founder and Principal Shareholder, Mr Antti Piippo, Elcoteq's President and CEO Mr Jouni Hartikainen and several other dignitaries from India and Finland. Highlighting the importance of manufacturing telecommunications equipment locally, Mr Dayanidhi Maran, Union Minister of Communications & Information Technology stated that the inauguration of Elcoteq's facility in Bangalore demonstrates India's potential for growth in two important areas - telecommunications and electronics manufacturing services. "Telecommunications services have been growing exponentially, but the electronics manufacturing sector has been lagging behind. With Elcoteq's initiative, and the impact it will have on the industry, I am sure we can look forward to meeting the growing demand from India's telecommunications sector locally. This facility will have far reaching implications for India's manufacturing sector and employment generation. It will result in cost savings to the economy in terms of our import bill and most importantly, impact the end consumer in terms of lower prices," Maran added. "With a population of over one billion people, mobile phone penetration of a mere 3%, and a telecom services market growing at over 100% annually, India represents one of the most exciting regions for handset OEMs (Original Equipment Manufacturers) and EMS providers. Given the huge opportunity, cost advantages, availability of highly skilled manpower, infrastructure and software development facilities, proximity of key suppliers and the government's agenda for telecommunications and electronics manufacturing, we find this an extremely attractive location. Our Bangalore facility gives us a good footprint in the region," said Mr Jouni Hartikainen, President and CEO of Elcoteq. "This inauguration is more than the launch of a manufacturing facility. It is about revolutionizing the electronics manufacturing services sector in India and tapping the vast opportunities it offers. The telecommunications sector in India has surpassed all forecasts," added Mr Antti Piippo, Chairman of the Board of Directors of Elcoteq.