-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Syrma to Merge with SGS Tekniks to Create Rs 1,200-cr Entity
November 25, 2020 | Syrma TechnologyEstimated reading time: 1 minute
Syrma Technology and SGS Tekniks announced a merger agreement to further strengthen their design and manufacturing capabilities for global and domestic OEMs.
The cash cum stock merger will see the creation of Syrma SGS Technologies with a combined turnover of over Rs.1000 crores, with 55% revenues coming from exports primarily to the USA and Europe. The deal was supported through a private equity investment by GEF.
“The current revenue of Syrma is over Rs 550 crore, post the merger we’ll have a combined revenue of Rs 1000 crore,” said Sandeep Tandon, Managing Director, Syrma Technology. “We’re projecting growth between 25% to 30% year-on-year and by 2021 we aim to achieve Rs 1200 crore in revenue.”
Tandon said that with the Indian EMS market is growing at a CAGR of over 25%, there’s an increase in the opportunity to outsource manufacturing in consumer electronics, home appliances, mobile phones, and so on.
“Application areas such as medical electronics and defense electronics are seeing a surge leading to growth in the overall electronics sector. With the government recently announcing incentive schemes like PLI, Specs, and EMC 2.0, for developing the ecosystem, there’s a bigger need for technological advancement in the EMS sector,” Tandon said.
Further, there’s a huge opportunity to add IoT to a wide range of products.
“With the projected global growth of IoT products to well over US$5 Tn and the Indian IoT market keeping pace, the opportunities are quite exciting for the combined entity,” the company said in a statement.
Upon completion of this merger, Syrma SGS Technologies will have 8 manufacturing facilities in India across Gurgaon, Manesar, Bawal, Baddi, Bangalore, Chennai, Bargur, and three design centers in Chennai, Gurgaon, and Stuttgart (Germany).
Suggested Items
SPEA Expands in Southeast Asia with New Subsidiary in Thailand
05/17/2024 | SPEASPEA, a global leader in automatic test equipment for the manufacturing of semiconductor, microelectronic and electronic devices, today announced the opening of its new subsidiary in Thailand. This expansion marks a significant step forward in SPEA's commitment to serving the growing Southeast Asian microchip and electronics market with leading-edge manufacturing machinery and equipment.
Indium Corporation to Showcase Sustainable Solutions for Power Electronics at PCIM
05/17/2024 | Indium CorporationAs one of the leading materials providers to the power electronics assembly industry, Indium Corporation® will proudly showcase a selection of innovative products at PCIM Europe, June 11-13, in Nuremberg, Germany.
Siemens, Foxconn Team Up to Optimize Forward-thinking Manufacturing
05/16/2024 | FoxconnSiemens AG, a leading technology company, and Hon Hai Technology Group (Foxconn), the world’s largest electronics manufacturer, have signed a memorandum of understanding (MoU) to drive digital transformation and sustainability in smart manufacturing platforms.
IPC Releases May 2024 Global Sentiment of the Electronics Supply Chain Report
05/16/2024 | IPCSentiment among electronics manufacturers fell this month, after hitting a new high in April. Despite the decline, sentiment remains historically high according to IPC’s May Sentiment of the Global Electronics Manufacturing Supply Chain Report.
Sypris Reports Q1 2024 Results; Revenue Up 10%
05/15/2024 | Sypris Solutions Inc.The Company’s first quarter 2024 consolidated revenue increased 10.1% to $35.6 million compared with the prior-year quarter, representing the 11th quarter of double-digit year-over-year growth during the past 12 quarterly periods.