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Numeric forms venture with French firm
Staff Correspondent
CHENNAI:
The UPS (uninterrupted power supply) system manufacturer, Numeric Power Systems, has joined hands with the France-based company, Socomec SA, to market the latter's products in India.
The new joint venture — Socomec-Numeric UPS Pvt. Ltd. — will have an equal partnership. Initially, it will have a capital investment of Rs. 2 crore.
This will go up to Rs. 10 crore by the end of the year, according to R. Chellappan, founder and Managing Director of Numeric.
Addressing a press conference here on Friday, Mr. Chellappan said that in the first year, the company would be targeting revenue of Rs. 8 crore.
Mr. Chellappan said Numeric had captured 70 per cent of the market in the single-phase UPS segment. With this joint venture, it would enter into the three-phase UPS segment.
He said Socomec UPS would be imported from various factories located in Italy, France and China.
The Managing Director of Socomec UPS Asia, Jean-Marc Gautier, said his company would not rule out the possibility of manufacturing in India.
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