Business Daily from THE HINDU group of publications
Thursday, Apr 19, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Apr 19, 2007 ePaper |
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Info-Tech
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Hardware MRO-TEK rolls out one millionth switch Our Bureau
Bangalore April 18 Networking products manufacturer MRO-TEK rolled out its one-millionth product, a powered Ethernet switch for accessing high speed Internet connection, from its facility at Bangalore on Wednesday. The company took around 22 years to achieve this landmark. "Going forward, we would like to achieve the next million in a shorter span of time, as the demand for our product picks up," said Mr S. Narayanan, Chairman and Managing Director, MRO-TEK. "Our focus will continue to be in R&D and manufacturing on access networking," Mr Narayanan said adding the company has developed newer products in areas of metro Ethernet and passive networking, which would be introduced in the markets soon. MRO-TEK, Mr Narayanan said, commands a dominant market share of between 50-70 per cent in product categories such as leased line modems among others. MRO-TEK recently said it would go in for a buy-back of its equity shares through the stock exchange mechanism at prevailing market rates. The company decided to go in for a buy-back as its stock price had fallen below its current book value. MRO TEK has earmarked up to a maximum of Rs 8.25 crore for the buy-back, which will be financed from the free reserves of the company.
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