Financial Daily from THE HINDU group of publications Thursday, Nov 04, 2004 |
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Corporate
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New Projects FrameFlow to invest $5 m in Chennai unit Our Bureau
Chennai , Nov. 3 FRAMEFLOW India Ltd will spend $1 million (Rs 4.5 crore) in setting up a visual special effects production facility in Chennai, which will undertake jobs from Hollywood filmmakers. Over the next 18 months, the company will spend $5 million on expansion of the facility. It is understood that the Chennai-based Shriram group will pick up a stake in FrameFlow. FrameFlow India is a wholly-owned subsidiary of FrameFlow, LLC, a computer graphics animation and visual effects production company based in Atlanta, USA. The CEO of the company, Mr Hitesh Shah, told a press conference here today that the Chennai facility would employ some 45 people immediately, which will go up over a period of time. Mr Shah declined to disclose any details as to the size of orders on hand or the revenue projections of the company. Two experts from the US, Mr Tim McGovern and Mr George Merkert, have joined the company's board of advisors. Both Mr Tim and Mr George have extensive experience in producing visual special effects for Hollywood movies, such as Total Recall, Tron, Fear Dot Com, Virtuosity and Godzilla.
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