Financial Daily from THE HINDU group of publications
Friday, Feb 18, 2005
Financial Daily from THE HINDU group of publications Friday, Feb 18, 2005 |
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Corporate
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New Projects National Instruments to set up new facility in Bangalore Our Bureau
Bangalore , Feb. 17 MEASUREMENT and automation company National Instruments said on Thursday that it will set up a new facility in Bangalore. It also expects the Indian operations to grow at a rate faster than any of its subsidiaries worldwide. National Instruments India Managing Director, Mr Jayaram Pillai, told newspersons that the new facility would be operational towards the end of the year. He did not disclose the investment in setting up the new facility. The Sales Director, Mr Victor Mieres, said the Indian arm is the fastest growing market for the company. "... We see the time as ripe for us to ride the growth the market is witnessing to take our local presence to the next level here." The company will invest more in creating awareness of virtual instrumentation in India. It will also expand its sales and marketing operations in India, he added. National Instruments expects to post revenues of about $1 billion by 2008. Its current revenues are about $514 million.
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