Elcoteq Inaugurates a New Plant in India.IRVING, Texas Irving (pronounced 'er-ving') is a city located in the U.S. state of Texas within Dallas County. According to the 2000 U.S. Census, the city population was 191,615; the 2006 estimate was 201,927 according to the North Central Texas Council of Governments, and 196,084 according to -- Please replace the release headlined "Elcoteq to Become the First Global Commtech EMS -- Electronics Manufacturing Services Electronic manufacturing services (EMS) is term used for companies that design, test, manufacture, distribute and provide return/repair services for electronic component and assemblies for original equipment manufacturers (OEMs). -- Company in India" with the following corrected version due to multiple revisions. The corrected release reads: ELCOTEQ INAUGURATES A NEW PLANT IN INDIA Elcoteq Network Corporation, global provider of electronics manufacturing services (EMS) for the Communications Technology Noun 1. communications technology - the activity of designing and constructing and maintaining communication systems engineering, technology - the practical application of science to commerce or industry Industry, inaugurated a new plant in Bangalore, India, April 11, 2005. At the same time Elcoteq became the first global EMS company to manufacture telecommunications equipment in India. When fully operational, Elcoteq's Bangalore facility will employ approximately 1,000 people and manufacture products for global customers operating in India as well as the Asia-Pacific region. The construction of the facility was completed in a record time of nine months. The inauguration is a landmark not just for Elcoteq but also for India, as Elcoteq is the first high-volume electronics manufacturing services company in India for global communications technology customers. The products manufactured in Bangalore include terminal products like mobile phones and communications network The transmission channels interconnecting all client and server stations as well as all supporting hardware and software. equipment. The inauguration heralds the emergence of electronics manufacturing services in India and signals India's firm intention in establishing itself as a global manufacturing hub for telecommunications. Union Minister of Communications & Information Technology, Mr. Dayanidhi Maran Dayanidhi Maran (Tamil: தயாநிதி மாறன்) (born December 5, 1966, Kumbakonam, Thanjavur, Tamil Nadu, India) is a member of parliament in India’s 14th Lok Sabha from inaugurated the facility in the presence of Karnataka's Minister for Large and Medium Industries, Small-scale Industries and Infrastructure, Mr. P.G.R. Sindhia; Elcoteq's Chairman of the Board, Founder and Principal Shareholder, Mr. Antti Piippo; Elcoteq's President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Mr. Jouni Hartikainen; and several other dignitaries from India and Finland. Highlighting the importance of manufacturing telecommunications equipment locally, Mr. Dayanidhi Maran, Union Minister of Communications & Information Technology, stated that the inauguration of Elcoteq's facility in Bangalore demonstrates India's potential for growth in two important areas -- telecommunications and electronics manufacturing services. "Telecommunications services have been growing exponentially, but the electronics manufacturing sector has been lagging behind. With Elcoteq's initiative, and the impact it will have on the industry, I am sure we can look forward to meeting the growing demand from India's telecommunications sector locally. This facility will have far-reaching implications for India's manufacturing sector and employment generation. It will result in cost savings to the economy in terms of our import bill and most importantly, impact the end consumer in terms of lower prices," Maran added. "With a population of over one billion people, mobile phone penetration of a mere 3%, and a telecom services market growing at over 100% annually, India represents one of the most exciting regions for handset OEMs (Original Equipment Manufacturers) and EMS providers. Given the huge opportunity, cost advantages, availability of highly skilled manpower, infrastructure and software development facilities, proximity of key suppliers and the government's agenda for telecommunications and electronics manufacturing, we find this an extremely attractive location. Our Bangalore facility gives us a good footprint in the region," said Mr. Jouni Hartikainen, President and CEO of Elcoteq. "This inauguration is more than the launch of a manufacturing facility. It is about revolutionizing the electronics manufacturing services sector in India and tapping the vast opportunities it offers. The telecommunications sector in India has surpassed all forecasts," added Mr. Antti Piippo, Chairman of the Board of Directors of Elcoteq. About Elcoteq Elcoteq Network Corporation is a leading electronics manufacturing services (EMS) company with original design manufacturing (ODM (Original Design Manufacturer) A contract manufacturer that uses its own designs and intellectual property (IP). See contract manufacturer. ) capabilities in the communications technology field. Elcoteq provides global end-to-end solutions consisting of design, NPI NPI National Provider Identifier, see there , manufacturing, supply chain management, and after-sales services for the whole lifecycle of its customers' products. The company operates on four continents, in 15 countries, and employs approximately 19,000 people. Elcoteq's consolidated net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for 2004 totaled 3.8 billion USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. (MEUR MEUR Million Euros 2,953.7). Elcoteq Network Corporation is listed on the Helsinki Exchanges Helsinki Exchanges (HEX) The Helsinki Exchanges (HEX Ltd., Helsinki Securities and Derivatives Exchange and Clearing House) was formed at the beginning of 1998 following the merger of the Helsinki Stock Exchange Ltd. and SOM Ltd. . More information on the company is available at www.elcoteq.com. |
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