Financial Daily from THE HINDU group of publications
Tuesday, Nov 18, 2003
Financial Daily from THE HINDU group of publications Tuesday, Nov 18, 2003 |
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Info-Tech
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Off-shore Development QuEST sets up unit in China Vishwanath Kulkarni
Bangalore , Nov. 17 THE Bangalore-based Quality Engineering and Software Technologies Pvt Ltd (QuEST) has set up a wholly-owned subsidiary in China to service its global clients such as GE among others operating in that country. Incorporated as QuEST Shanghai, the subsidiary is expected to be operational in January 2004. The company initially planned to hire about 50 Chinese engineers for its design and manufacturing support centre, said Mr Arvind Melligeri, President, QuEST Inc.
QuEST might look at shifting its support centre for manufacturing vertical to China later, he added. Meanwhile, the company has bagged a $6 million-a-year deal from a European aerospace company for developing and executing engineering designs. QuEST is setting up a dedicated development centre for this European firm in Bangalore, he said, adding: "we plan to hire about 50 engineers initially and ramp up the team to 200 in a year's time." The company has also tied up with European engineering design consultancy firm, INBIS Ltd, to compete for larger outsource packages across a broad range of industry sectors. INBIS will act as a front-end for QuEST in the European market. "We are initially focussing on the aerospace industry in the UK, Europe and the US through this partnership," Mr Melligeri said. "We expect to put up a team of 50-60 people for INBIS over six to eight months and are looking at a revenue of $2 million a year from this partnership," he added. QuEST which counts GE as its top client draws close to 65 per cent of its revenues from the company. "We are consciously planning to bring down GE's share of revenues from 65 per cent to 35 per cent this year even while growing our other business," he said. The company which clocked revenues of $20 million last year, expects its earnings to stay flat as it has discontinued its manufacturing practice.
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