Tata Electronics acquires 100% stake in Wistron India
Dr Randhir Thakur of Tata Electronics said India's EMS industry is poised for growth given the strong support from the government.
Tata Electronics Private Limited (TEPL), Tata Group’s greenfield venture within the precision manufacturing space, has signed a binding Share Purchase Agreement (SPA) with SMS InfoComm (Singapore) and Wistron Hong Kong Limited to acquire 100% equity stake in Wistron InfoComm Manufacturing (India) Private Limited (WMMI).
"Signing of the Share Purchase Agreement to acquire Wistron InfoComm Manufacturing (India) Private Limited is an important milestone for us. The EMS (Electronic Manufacturing Services) industry in India is poised for growth given the strong support from the Government, and we are happy to be participating in this growth story. We are focused on strengthening our capabilities in the manufacturing sector. I thank the entire Wistron team for their cooperation throughout this process," said Dr Randhir Thakur, CEO & Managing Director of Tata Electronics.
In October, Rajeev Chandrasekhar, Minister of State for Electronics and IT, shared the news via his post on X that Tata Companies are set to manufacture iPhones in India. This development followed the approval by Wistron's board to sell its Indian plant to Tata at an estimated transaction price of around $125 million, enabling the production of iPhones for both domestic and global markets.
He mentioned that he stands fully in support of the growth of global Indian electronics companies that will, in turn, support global electronic brands who want to make India their trusted manufacturing and talent partner.
Earlier this year, it was announced that Tata was nearing the completion of the acquisition of Taiwan's Wistron Corp. plant in Bengaluru by March. This acquisition included taking over all eight iPhone production lines, the plant's 10,000 workers, with Wistron continuing as a service partner for iPhones in India.
In the preceding year, Tata Group had outlined plans to expand its workforce at its electronic factory in Hosur, which manufactures components for iPhones.
Edited by Megha Reddy