VVDN Technologies to invest $100 million to expand its manufacturing facilities
By MYBRANDBOOK
VVDN Technologies has announced its plans of investing $100 million in the next five years, with the aim of expanding its manufacturing facilities to meet growing global demand for electronics. As part of its expansion, the Gurugram-headquartered contractual electronics manufacturer has set-up a new manufacturing facility in Pollachi near Coimbatore, Tamil Nadu, and also opened a new antenna manufacturing facility in Manesar near Gurugram, Haryana.
In a statement, Puneet Agarwal, chief executive of VVDN Technologies said that the company also plans to add fabrication or manufacturing of printed circuit boards (PCBs) to its abilities within the next one or two years, in order to have a full-stack manufacturing facility. According to the press statement, the set of manufacturing facilities that the company has, enables it to add up to 50% of local value in the overall bill of materials (BoM) of a product.
The company presently has testing, mechanical processes, circuit assembly and engineering facilities, which are spread across its six manufacturing facilities in Manesar, and the one facility in Pollachi.
In October last year, VVDN also signed a memorandum of understanding (MoU) with US chipmaker Intel, for building devices with Intel’s 5G and connectivity chip designs. This, according to Agarwal, is part of an expected uptick in demand for device manufacturing, which the company said will also lead to higher export value of its devices.
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