Toonz Animation to invest $35 M in India

By siliconindia staff writer   |   Wednesday, 19 January 2005, 20:30 IST
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THIRUVANANTHAPURAM: Buoyed with the massive animation orders and some continuing projects, Canada based Toonz Animation will invest $35 million in India over the next five years to upgrade its operations in its studio at Thiruvananthpuram in Kerala and set up academies through out the country. Toonz Animation India is engaged in producing animation programming and films for major animation companies’ world over. Chief Executive Officer of Toonz Animation India P. Jayakumar said ‘based on some good orders, the company wanted to upgrade and expand its current facility in India to be ready for major outsourcing potential. In order to meet existing and future demands, the company will recruit about 150 animators, thus increasing the headcount to 600. The investment will come from co-financing by customers, internal accrues and from parent company, the $ 5 billion Comcraft group. Jayakumar also said the company grew by a whopping 100 percent in the last years and the trend will continue for a few more years. As far as new orders are concerned, Jayakumar said the company has received orders for producing a 39 and 104 episode series for two US companies. In the series of animation academies to be set up all over the countries, Jayakumar said the first such academy is operational in Kolkata and about 200 animators will pass out each year.