MAY 20259WELSPUN PLANS MAJOR EXPANSION FOR SINTEX BRANDTATA ELECTRONICS ON TRACK TO DOUBLE UP THE PRODUCTION OF APPLE IPHONES IN INDIAWelspun Group, which acquired Sintex through the corporate insolvency resolution process in March 2023 for Rs 1,251 crore, is expanding the Sintex brand beyond its core plastic water storage tank business. The company now aims to diversify into segments like pipes, water recycling, and According to a few internal sources of Tata Electronics, the company may increase its production of Apple's iPhone up to 1 lakh in its electrical products, with a target of capturing 5% of the highly competitive pipes market in the next seven years.Sintex, currently operating in the premium water tank segment, is also venturing into water transportation, including a range of pipes, and plans to introduce water treatment and reclamation solutions. In addition, the company is focusing on expanding its electrical business with products like junction boxes and meter boxes.Welspun is investing heavily in Sintex's growth, including Rs 2,400 crore for capacity expansion. So far, Rs 300-350 crore has been invested, and additional plants are being developed in locations such as Sonipat and Bhopal. Sintex is also tripling the capacity of its newly acquired Raipur plant, Weetek Plastics.Agarwal, Managing Director of Welspun BAPL and Director of Sintex, emphasized that Sintex is targeting Tier II and III cities to increase its reach, aiming to make products more affordable. Sintex currently holds a 10% share of the Rs 6,000 crore water storage tank market, and with its new strategies, it plans significant growth across its product portfolio. Hosur unit. This news comes after Apple's CEO Tim Cook had previously announced that India would be the primary hub of manufacturing Apple iPhones for the US.One of the sources highlighted, "Tata Electronics is looking to double its existing capacity of around 50,000 enclosures." The production will be increased ahead of Apple's product launch, around September. The new production will be Phase 2 of the Hosur facility.Tata Electronics would have recorded more production if it wasn't for the fire breakout in the manufacturing unit, which happened in September last year. Due to this the company had to press a halt on its rapid production. Another source said, "It took some time for them to get back on track post the fire. But the capacity is at pre-fire levels now."Tata Electronics had planned to increase the production of Apple iPhones, as the company had acquired Wistron's Infocomm Manufacturing Private Ltd, in March 2024. This was followed by the acquisition of Pegatron Technology India (PTI) at the beginning of this year. The company will soon have another unit in Bangalore and another new unit in Hyderabad which will be targeting Aipods. This has increased the bounds of production area in India, marking it as the qualified manufacturing nation on global map.
<
Page 8 |
Page 10 >