-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueBox 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.
Boost Your Sales
Every part of your business can be evaluated as a process, including your sales funnel. Optimizing your selling process requires a coordinated effort between marketing and sales. In this issue, industry experts in marketing and sales offer their best advice on how to boost your sales efforts.
- 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
IPC Bestows Posthumous Hall of Fame Award to Industry Icon Michael Ford
04/18/2024 | IPCIPC honored the late Michael Ford, Aegis Software, for his extraordinary contributions to the global electronics manufacturing industry with the IPC Raymond E. Pritchard Hall of Fame Award at IPC APEX EXPO 2024. IPC’s most prestigious honor, the Hall of Fame Award is given to individuals who have provided exceptional service and advancement to IPC and the electronics industry. Ford, an industry leader and valued IPC volunteer, died suddenly in January 2024.
SEMI Applauds U.S. Chips Act Award for Samsung Electronics Facilities to Strengthen Domestic Semiconductor Supply Chain
04/17/2024 | SEMISEMI, the industry association serving the global electronics design and manufacturing supply chain, applauded the United States Department of Commerce’s announcement of a Preliminary Memorandum of Terms for an award under the CHIPS and Science Act to support the expansion of Samsung Electronics’ presence in Texas and the company’s development and production of leading-edge chips.
Northrop Grumman honors Calumet Electronics with Supplier Excellence Award
04/17/2024 | Calumet ElectronicsNorthrop Grumman Corporation has recognized Calumet Electronics during the company’s 2024 Supplier Excellence Awards for “exceptional performance and unwavering commitment to delivering with excellence.” Calumet is one of 70 suppliers recognized from across the globe. In its award category of “Supplier Strategic Excellence,” Calumet was honored alongside global corporations such as Amazon Web Services, Dell Technologies, and Eaton Corporation.
Ark Electronics Expands Global Manufacturing Factory Network in North America and Europe
04/17/2024 | PRNewswireElectronic Manufacturing Company Ark Electronics recently announced the expansion of its Global Factory Network with the addition of Electronics Manufacturing Service (EMS) capabilities in Mexico and Europe.
Designing Electronics for High Thermal Loads
04/16/2024 | Akber Roy, Rush PCB Inc.Developing proactive thermal management strategies is important in the early stages of the PCB design cycle to minimize costly redesign iterations. Here, I delve into key aspects of electronic design that hold particular relevance for managing heat in electronic systems. Each of these considerations plays a pivotal role in enhancing the reliability and performance of the overall system.