Sanmina and Reliance completes Indian JV
EMS provider Sanmina and Reliance have completed the previously announced joint venture transaction. With the JV, the companies are looking to create an electronic manufacturing hub in India.
This partnership is a marriage between Sanmina's advanced manufacturing experience and Reliance's expertise in the Indian business ecosystem. The day-to-day business will however continue to be managed by Sanmina's management team in Chennai, which will be seamless from an employee and customer perspective.
The joint venture will prioritise high-tech infrastructure hardware, for growth markets, and across industries such as communications networking (5G, cloud infrastructure, hyperscale datacenters), medical and healthcare systems, industrial and cleantech, and defense and aerospace, a press release reads.
In addition to supporting Sanmina's current customer base, the joint venture will create a "Manufacturing Technology Center of Excellence" that will serve as an incubation center to support the product development and hardware start-up ecosystem in India.
According to the press release, all manufacturing will take place at Sanmina's 100-acre campus in Chennai. Sanmina states that there also exists the possibility of site expansion to support future growth opportunities as well as to potentially expand to new manufacturing sites in the country based on business needs.