Sanmina and Reliance form JV to manufacture high tech hardware

4 Oct 2022 , 09:08 AM

Sanmina Corporation (Sanmina) (NASDAQ: SANM), a leading integrated manufacturing solutions company and Reliance Strategic Business Ventures (RSBVL), a wholly-owned subsidiary of Reliance Industries today announced they have completed the previously announced joint venture transaction. This partnership will leverage Sanminas 40 years of advanced manufacturing experience and Reliances expertise and leadership in the Indian business ecosystem. The day-to-day business will continue to be managed by Sanminas management team in Chennai, which will be seamless from an employee and customer perspective. The joint venture will create a world-class electronic manufacturing hub in India, in line with the Honble Prime Ministers ?Make in India? vision. The joint venture will prioritize high technology infrastructure hardware, for growth markets, and across industries such as communications networking (5G, cloud infrastructure, hyperscale datacenters), medical and healthcare systems, industrial and cleantech, and defense and aerospace. In addition to supporting Sanminas current 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 support the product development and hardware start-up ecosystem in India, as well as promote research and innovation of leading-edge technologies. All the manufacturing will take place at Sanminas 100-acre campus in Chennai, with the ability for site expansion to support future growth opportunities as well as to potentially expand to new manufacturing sites in India over time based on business needs.Powered by Capital Market – Live News