Syrma Technology Sets its Fifth Manufacturing Unit; to Invest $10 Million in next Two Years
Friday, 27 April 2018, 19:46 IST
Syrma Technology, a leading electronic products and solutions provider, enters into Indian market by setting up its fifth manufacturing unit in the Delhi-Mumbai corridor. Being the largest producer of IoT products in India, Syrma’s upcoming unit will focus on the Auto, Industrial, Aero & Defence and Healthcare sectors in the expanding Indian market.
A subsidiary of Tandon Group (a 40 years experienced organization in electronics manufacturing) Syrma was founded in 2006 and has presence in San Jose and Chennai. The company aids organizations design and develop intelligent products. With the current focus on the export market, Syrma’s business is growing at a CAGR of over 27 percent in the last three years. Having two manufacturing units in Chennai’s MPEZ (Madras Export Processing Zone), Syrma designs and manufactures RFID tags, Magnetic products and Printed Circuit Board Assemblies, and Box Builds for a wide range of applications. Syrma employs 1800 people around the country, and has already developed & distributed over 200 million OEM products.
Dr. Sreeram Srinivasan, CEO, Syrma Technology, says, “Syrma has an excellent track record of over a decade in working with leading global customers and in adding intelligence to their products. We are very excited about the opportunities in the electronics space in India. This domain is growing at a very healthy pace and is expected to touch $230 billion by 2020. Combined with four decades of experience of Tandon Group, Syrma is nicely positioned to leverage these opportunities. To service the increasing demands from the National market, we are investing $10 million in the country and will be setting up a new manufacturing plant in the Delhi-Mumbai corridor. This plant will be operational in the later part of 2018.”
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