Amber Enterprises, Korea Circuit form JV for advanced PCB manufacturing in India
The partnership is aimed at addressing the country’s growing demand for electronics, and through this collaboration, the companies plan to bring cutting-edge technology and manufacturing processes to the Indian market.
The Amber Group, through its subsidiary IL JIN Electronics, and Korea Circuit will own 70% and 30%, respectively, of the joint venture. “On the way forward, we will begin scouting for land to co-create a new state-of-art facility while we await finalisation of the government’s plan on the Electronics Components Manufacturing Scheme,” Amber Enterprises India said.
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Jasbir Singh, Executive Chairman and CEO of Amber Group, said, “This collaboration will further strengthen the offering of recently acquired Ascent Circuit portfolio (and) marks the revolutionary progression of Amber Group into a leading full stack backward integrated EMS company.”
Korea Circuit is a pioneer of the Korean PCB industry and has seen the development of Korea’s electronics industry as an expert in the production of PCBs for the past 45 years.
Se Joon Chang, CEO of Korea Circuit, said, “The collaboration with Amber Group brings to on table the experience of more than three decades of widespread and highly backwardly integrated operations in India. The JV will allow us to establish an efficient and reliable supply chain through the local manufacturing facility, and cater to the rapidly growing demand of India.”
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Shares of Amber Enterprises India Ltd ended at ₹5,167.85, up by ₹24.15, or 0.47% on the BSE.
