BANGALORE, INDIA: Incap Contract Manufacturing Services, a subsidiary of Incap Corporation, Finland, has installed a Fuji-line to triple the capacity of the automatic PCB assembly in Tumkur. The company also plans to construct another factory building to supplement the existing infrastructure. Incap is making investments and further developing the operations in the Tumkur factory with an objective to acquire new customers in the area. To start with, Incap is marketing its services to the potential clientele in South India. The targeted customers operate in industrial electronics, medical equipment manufacturing and in telecommunications.

Earlier this year in May, Incap acquired the unit in Tumkur from TVS Electronics at a remuneration of 7.4 million euros. The factory building, constructed in 1987, spans 6,000 sq/mts. Currently the unit employs over 220 people and specializes in manufacturing electronic components and box-build products, such as power supply and medical electronics. The revenue for June-December period in 2007 is estimated at 6 million euros. Through constant investments and new customer acquisition Incap aims at a revenue over 40 million euros in 2010.

"India plays a critical role in our global strategy of offering our customers a global partnership in regions where the market and demand are growing vigorously. Our goal is to double the overall business operations of Incap Group by 2010 and to grow profitably exceeding the average industry growth. India will be the foundation for Incap's strong future growth at the same time maintaining our stronghold in Europe", said Juhani Hanninen, President and CEO of Incap Corporation.

"In future, India will be the fastest growing market for us and therefore we are developing and investing into operations here. Services provided in the unit are similar to our service offering in our European units and our customers can get everything under one roof, from design to a finished product shipped to the required location", said Jarmo Ukonaho, CEO, Incap Contract Manufacturing Services.

Indian market for electronics products is growing fast, with an estimated average rate of 25 to 30 per cent. Outsourcing of electronics manufacturing is also expected to increase at the rate of 30 per cent per annum.

To discuss its strategy for Indian market, Incap is organizing a Stakeholder Event on September 20 in Bangalore for media and its customers. The event will include a seminar with prominent speakers and a factory tour in Tumkur. Asko Numminen, Ambassador of Finland will inaugurate the event and Gopal Srinivasan, Chairman of the Confederation of Indian Industry, Tamil Nadu State Council will be present to discuss the current development and outlook of the Indian economy and industry in addition to a few customers.