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Bangalore , April 19

THE State-owned ITI Ltd plans to shift the operations of its Electronics City plant and merge it with Doorvaninagar plant from May 1, the company informed the Bombay Stock Exchange.

"The requirement for C-Dot exchanges, which are manufactured in the Electronics City plant, has gone down so much that it does not make sense to carry on such operation in that facility," top company sources said.

Primarily, the overall manufacturing environment of such products hadbeen affected and hence the company had to look into the cost structure, sources added.

However, ITI is yet to decide on the future of the real estate in the Electronics City. "It is too premature right now to comment on this ... we have not yet taken a final decision ... though there are some proposals," sources said.

The company ruled out any staff rationalisation following the relocation of its Electronics City plant.

The product lines of Electronics City is likely to be integrated with the existing ones at the Doorvaninagar, sources added.

Last August, the ITI Chairman and Managing Director, Mr Y.K. Pandey, had indicated of a possible closure of one of its Bangalore plants.

The company reported a net loss of Rs 164.24 crore over net sales of Rs 231.99 crore in the third quarter of 2003-04.

More Stories on : Mergers & Acquisitions | Telecommunications

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