BANGALORE: CIPSA-RIC India Pvt. Ltd, an Indo-Spanish company based here and specialising in producing printed circuit boards (PCBs), is investing $10 million to expand its operations, including setting up of a second facility. The target is to enhance capacity to 40,000 sq. m. a month by March 2008 from 12,000 sq. m. The Spanish partner in the joint venture, Circuitos Impresos Profesionales S.A. (CIPSA), with a 50 per cent stake in the Rs. 24 crore investment made a year ago, manufactures here single-double and multi-layer PCBs for OEMs (original equipment manufacturers) in the automotive, energy, industry automation and telecom sectors. CIPSA Chriman, Evaristo Michavila, told reporters here on Monday that close to 70 per cent of the PCBs made in the Bangalore facility were sold to CIPSA itself and other user companies in Europe. The balance went to domestic customers.

CIPSA-RIC India Vice-Chairman, Anil Gupta, said, "We became cash positive by the end of 2006-07 with revenues equal to $10 million and the additional investment, which takes our capital to almost Rs. 70 crore, will increase production by almost four times. Orders have increased to 20,000 sq. m. a month, including exports."

"The new facility is located on land acquired from Karnataka Industrial Infrastructure Development Corporation (KSIIDC) and we have sought 15 acres more for a third facility, not far from the new international airport," Mr. Gupta said. The second facility would create 1,000 jobs, taking the total workforce to 1,350, he added.

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