Investment in inYantra Technologies Pvt Ltd and property purchase for $13.0 million
We are pleased to announce a 51% majority equity investment in inYantra Technologies Pvt Ltd for $8.0 million and the purchase of 13.5 acres of industrial land, which includes 3.5 acres of land and the operational buildings used by inYantra, in Pune, India for $5.0 million.
inYantra has expertise in printed circuit board assembly and box build integrated solutions, operating from a dedicated manufacturing site. It has established customer relationships and over 500 employees, led by an entrepreneurial management team.
Key customer sectors are automotive, consumer and industrial automation where inYantra has built strong customer relations with a number of Indian and international blue-chip original equipment manufacturers and Tier 1 suppliers.
Nat Rothschild, Executive Chairman of Volex, commented:
“This transaction offers an excellent strategic opportunity to expand our global footprint, which is consistent with our strategy, and will bring new and strengthened capabilities in the key Indian market. inYantra’s existing business, along with the imminent development of a complex cable assembly capability, will improve our customer offering, supporting low-cost manufacturing for existing and new domestic and export customers. Volex sees a further opportunity to improve inYantra’s margins by allowing inYantra to leverage the economies of scale from being part of a larger group.”
Read the full announcement here