BANGALORE, India Electronic design and manufacturing services company TES Electronic Solutions said it would invest $5 to $10 million to expand its Bangalore center, acquired last year.
Bangalore is the largest single R & D center of TES (Langon, France), and is expected to double in size the next two years, according to J. Balaji, head of TES' Indian operations.
Unlike other EMS firms, however, TES has held off setting up a plant in India, choosing to rely on its Malaysia plant. "Still, India will be among the biggest markets during the next five to 10 years," said Michel Desbard, chairman and CEO of TES.
Desbard pegged TES' revenues at $150 to $200 million, adding the privately-held company will continue to expand its capabilities rather than seek an IPO.