Financial Daily from THE HINDU group of publications
Sunday, Mar 12, 2006
Financial Daily from THE HINDU group of publications Sunday, Mar 12, 2006 |
|
|
|
|
|
|
|
Info-Tech
-
Off-shore Development NEC Corp to establish new co here to grow biz Our Bureau
Equity structure The new entity would be founded with a capital of $1 million and NEC Solutions Asia Pacific Pte Ltd would own 60 per cent stake, with NEC holding 40 per cent.
BIG PLANS AHEAD: Mr Tomohiro Yagi (right), CEO, NEC Solutions Asia Pacific Pte Ltd, addressing a press conference along with Mr Norihiko Kunishima, Senior V-P, NEC Corporation, in the Capital on Saturday. — Kamal Narang
New Delhi , March 11 NEC Corporation on Saturday announced it would establish a new company, NEC India Pvt Ltd, next month to grow its IT and network business in the rapidly expanding Indian market. The new company would provide solutions for construction of communication infrastructure and corporate IT and network infrastructure. It would employ 50 people and scale up the number to about 300 over three years.
Equity structure
The new entity would be founded with a capital of $1 million and NEC Solutions Asia Pacific Pte Ltd would own 60 per cent stake, with NEC holding 40 per cent. "It will provide leading-edge IT, network solutions such as information systems, Internet protocol systems, security systems, radio frequency identification systems and wireless systems. In addition, it will sell mass-market IT products such as servers, PCs and projectors," said Mr Norihiko Kunishima, Senior Vice-President at NEC Corporation, said.
Other plans
"We also plan to capitalise on high-quality local software resources to develop our own proprietary products and expand local sales, contributing to the growth of India," he added. NEC established a representative office in India in 1977. Following that, NECSAP set up an office in 2002, and began selling IT equipment. In addition, NEC's purchasing division established a liaison office in Chennai in 2002 as a procurement support base mainly for offshore outsourcing of software development. In December 2005, NEC System Technologies established a joint venture company with HCL Technologies - NEC HCL System Technologies Ltd - as a base for software development.
More Stories on : Off-shore Development | Software
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2006, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|