Lenovo to open unit in Himachal Pradesh, invest $11 mn
Thursday, 26 July 2007, 19:30 IST
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New Delhi: Global computer maker Lenovo Thursday announced setting up of its second manufacturing unit in Baddi, Himachal Pradesh with an investment of $11 million in an effort to increase its presence in the Indian market. "The investment would be done in phases; initially, a majority of the investment would be made towards the setting up of the plant and then gradually we would be investing as and when required," Neeraj Sharma, managing director, Lenovo South Asia, told a press conference here. The new facility, which would be operational from the third quarter of the current fiscal, is expected to generate about 350 new jobs. Built over four acres of land, the plant would have a production capacity of manufacturing two million units a year that would include both desktops as well as laptops. Though the plant would initially be catering to the domestic market, the officials did not rule out the option of leveraging it as one of its export hubs. "India is one of our very strategic markets. This (the facility) is an important step towards our strong interest in emerging markets where we want to grow rapidly," said Jeff Gallinat, vice president, global manufacturing, Lenovo. The company also mentioned plans to open another manufacturing unit in Mexico with an investment of about $20 million that would have the capacity to produce five million units a year. In India, Lenovo opened their first manufacturing facility in 2003 in Puducherry with a production capacity of one million units.
Source: IANS
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