discoverIE opens new Bangalore facility to boost production capacity
(Alliance News) - discoverIE Group PLC on Wednesday announced the opening of a new manufacturing facility in Bangalore, India.
The Surrey, England-based designer and manufacturer of electronic components said the new site will support existing customer growth and pursue new opportunities.
The Jigani site covers 9,000 square metres, offering three times the company's current capacity in Bangalore, discoverIE said.
discoverIE's Bangalore operation forms part of its Noratel business, which manufactures power transformers and magnetic components for electrification applications. Around 70% of the company's current production serves customers in India.
Nick Jefferies, Group Chief Executive of discoverIE, said: "India is one of the world's most dynamic economies and an increasingly important market for discoverIE. This investment reflects our confidence in the country's long-term growth prospects and the opportunities we see supporting customers across multiple markets. The new Bangalore facility strengthens our manufacturing capability and demonstrates our commitment to such an important growth market."
Shares in discoverIE were down 0.1% at 781.60 pence on Wednesday morning in London.
By Niall Holden, Alliance News reporter
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