Bengaluru based strategic electronics manufacturer, Centum Electronics expanded operations with the launch of their fourth manufacturing facility in their home city. The state-of-the-art facility was inaugurated by Mr. Manohar Parrikar, Hon. Minister of Defence, Government of India in the presence of Mr. R.V. Deshpande, Minister for Large and Medium Scale Industries, Infrastructure Development, Government of Karnataka, Dr. S Christopher, Secretary, Department of Defence R&D and Director General, DRDO, Dr. G. Satheesh Reddy, Scientific Advisor to Raksha Mantri.
Spread over six acres the facility is about 150,000 sq. ft. and is located at the aerospace park near Devanahalli. The investments toward the facility including upgradation of lines and technology is about 200 crore, over two years.
Mr. Apparao Mallavarapu, Chairman and Managing Director, Centum Electronics said, "The aerospace facility is the fourth manufacturing location we have built in India demonstrating our continued commitment to the government's vision of 'Make in India.' Centum Electronics already has a significant presence in Bengaluru with three other facilities fully operational. The investment in the new manufacturing facility represents the potential available in the industry in India and abroad."
The inauguration of Centum's new facility Avanza had guest including customers, dignitaries and employees. The facility, which provides full time employment to nearly 750 people, will integrate design, manufacturing, factory testing, quality control and advanced manufacturing engineering for Centum's defence automation business in India and abroad. The project is a direct result of the opportunities created for Indian Companies with a focus on self- reliance and indigenous design and manufacturing for the Defence and Aerospace industry.
Located at the aerospace park, Centum Avanza has the advantage of being right next to the International airport. The facility will design and manufacture products for the Defence and Aerospace industries as well as for Industrial and Medical customers all around the globe. 95% of these products are exports from India. The facility is expandable to another 120,000 sq. ft. with a future capacity of 850,000 sq. ft.
The Centum Group's offering range from customized product design and development, manufacturing services and turnkey solution for mission-critical applications in the Defence, Aerospace, Space, Industrial, Medical and Communications markets. While most of the company's business come from outside of India, Centum has always been keen on a Make in India mandate. With reputed international clients across the US and Europe, Centum Electronics expanded its base with its recent acquisition of the French Adetel Group.
Shares of CENTUM ELECTRONICS LTD. was last trading in BSE at Rs.599.1 as compared to the previous close of Rs. 627.4. The total number of shares traded during the day was 1100 in over 144 trades.
The stock hit an intraday high of Rs. 615 and intraday low of 592. The net turnover during the day was Rs. 664729.