Sanmina and Reliance enter into previously announced joint venture deal – Reliance will accelerate “Make in India” initiative for advanced electronics hardware
MUMBAI, Sanmina Corporation (SANMINA) (NASDAQ: SANM), a leading integrated manufacturing solutions company, and Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of India’s largest private sector company Reliance Industries Limited (RIL), today announced that they has completed the previously announced joint venture deal.
The partnership will leverage Senmina’s 40 years of advanced manufacturing experience and Reliance’s expertise and leadership in the Indian business ecosystem. Senmina’s management team in Chennai will continue to manage day-to-day operations, maintaining flexibility from an employee and customer perspective.
This joint venture will create a world class electronic manufacturing hub in India in line with our Hon’ble Prime Minister’s “Make in India” vision. The joint venture will develop high-technology infrastructure hardware for emerging markets and across industries such as communication networking (5G, cloud infrastructure, hyperscale datacenters), medical and healthcare systems,
Priority will be given to sectors such as industrial and cleantech and defense and aerospace. In addition to serving Senmina’s existing customer base, the joint venture will create a state-of-the-art ‘Manufacturing Technology Center of Excellence’ that will serve as an incubation center to accelerate product development and hardware start-up ecosystem in India, as well as promote research and innovation of leading-edge technologies. is
All manufacturing will take place at Senmina’s 100-acre campus in Chennai and includes the ability to potentially expand to new manufacturing sites in India periodically as business needs dictate, as well as to uncover future growth opportunities.