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Apple Inc's Contract Manufacturer Salcomp Bets Big On India: Acquires Fourth Factory In Nokia SEZ In Chennai
Salcomp buses (Source: The Hindu)
Betting big on India prospects, Apple Inc's contract components manufacturer Salcomp has acquired another factory in Chennai's Sriperumbudur-based Nokia special economic zone (SEZ), reports Economic Times.
In what marks the company's fourth acquisition in Nokia SEZ, Salcomp has bought out a 30,000 square metres facility, belonging to United States (US)-based electronics manufacturer Jabil, which has remained idle for almost 10 years now. With this acquisition, Salcomp occupies almost 80 per cent of the entire Nokia SEZ.
The company which had signed a Memorandum of Understanding (MoU) with Tamil Nadu government to invest Rs 1,300 in the state had begun investments in 2019 by means of acquisition of a defunct Nokia facility, a facility of LiteOn Mobile, and another one of Laird Tech, for a sum of about Rs 350 crore.
Salcomp looks to manufacture electronic and electromechanical components for smartphones and other gadgets at the recently acquired facility. The company said that the expansion would enable it entry into new product lines like green energy products as well.
Salcomp already employs more than 8,000 employees and expects to have an employee base of 12,000-13,000 by mid next year.
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