Financial Daily from THE HINDU group of publications
Thursday, Jan 13, 2005
Financial Daily from THE HINDU group of publications Thursday, Jan 13, 2005 |
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Corporate
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New Projects Zicom to invest Rs 15 cr in expansion Our Bureau
Hyderabad , Jan. 12 THE Mumbai-based Zicom Electronics Security System Ltd will be investing about Rs 15 crore in its expansion activities both in India and abroad during the current year. According to the Promoter and Chairman of Zicom, Mr Manohar Bidaye, the company would be launching a joint venture in West Asia next month involving an initial investment of Rs 1 crore. The company is also planning to acquire a couple of domestic companies that have the technology to provide electronic security solutions. The company is in an advanced stage of negotiations in this regard. Mr Bidaye told reporters here on Wednesday that next fiscal, the company would be focusing on the security needs of retail and residential segments. Zicom had recently started a Z security division for providing electronic security solutions to small shops, houses and banks at a monthly fee ranging from Rs 700 to Rs 2,000. The company is currentlyproviding electronic security to 87 branches of various banks. The plans of Zicom for the current year include the expansion of its presence from the existing eight to 12 cities and the launch of "Intelligent Home Products" for the security needs of the household sector.
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