L&T Capital invests 1 bn in Rangsons Electronics

Tuesday, 28 August 2007, 07:00 Hrs
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Mumbai: L&T Capital Company Limited, a group concern of engineering major Larsen & Toubro (L&T), has invested around 1 billion for a stake in Mysore-based Rangsons Electronics Pvt. Ltd., an electronics manufacturing services (EMS) provider.

Rangsons Electronics, part of the N.R. Group, is one of the fastest growing EMS companies in India. With four state-of-the-art facilities in Bangalore and Mysore and an international procurement office in China, it caters to the high mix - high tech product spectrum of leading Indian and global firms.

R.N. Mukhija, president (operations) and member of the L&T board, said: "Looking at the market situation and its growth opportunities we believe this investment will bear fruit for both partners. Rangsons is well positioned to create significant value for its stakeholders. We see a great opportunity for Rangsons to be a global end-to-end solutions provider in EMS."

Pavan Ranga, CEO of Rangsons Electronics, added, "This is a significant milestone in our journey to becoming a global leader in the high mix - high tech EMS space. It will help in expanding our global footprint and strengthen our capabilities to add greater value to our customers across the product life cycle."

The investment deal was signed at a ceremony in Mysore in the presence of senior representatives of both companies, an L&T press statement said Tuesday.
Source: IANS
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