Chennai campus to work for industries focused on growth markets
San Jose’s Sanmina Corporation (NASDAQ: SANM) will lead a Reliance Group partnership to create a state-of-the-art ‘Manufacturing Technology Center of Excellence’ that will serve as an incubation center to support the product development and hardware start-up ecosystem in India, as well as promote research and innovation of leading-edge technologies.
Sanmina will also lead its joint venture with Reliance Group from its Chennai campus in developing high technology infrastructure hardware, for growth markets, and across industries such as communications networking (5G, cloud infrastructure, hyperscale datacenters), medical and healthcare systems, industrial and cleantech, and defense and aerospace.
All the manufacturing will take place at Sanmina’s 100-acre campus in Chennai, with the ability for site expansion to support future growth opportunities as well as to potentially expand to new manufacturing sites in India over time based on business needs.
This arrangement has been agreed following the completion of the previously announced joint venture transaction between Sanmina and Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Limited (RIL).
The day-to-day business will continue to be managed by Sanmina’s management team in Chennai, which will be seamless from an employee and customer perspective, said the partners in a joint statement on 4 Oct 2022.
The joint venture will create a world-class electronic manufacturing hub, it added. fiinews.com
