International Rectifier (IR), the US-based $1b power management technology major, is in the process of selling its Indian operations which include an assembly line in Mumbai. |
The global major's Indian production line is not part of its core competency as it is focussing increasingly on next generation products required across industries. |
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The Indian operations, which has been in operation for the past few years, manufactures diodes and bridge rectifiers besides a few other products. |
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The company employs around 300 people in India and a few companies are doing their due diligence to buy the operation. International Rectifier India GM Barry Beasley confirmed that the Indian unit is up for sale and the process should be completed hopefully in the next quarter. He however declined to reveal the price at which the unit will be sold. |
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According to this NYSE-listed company, it provides enabling technologies for products that work smarter, run cooler and raise the world's productivity-per-watt. The world's largest industry is electronics, and over the long term, global demand for power electronics makes its role more important and contribution more valuable. |
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IR is powering the next generation of servers and computers, cars, satellites, and home appliances. Some of its technologies makes variable-speed operation practical and affordable for a whole host of things. |
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The global major has a decent sales operation in India and for its last fiscal-ended June 2004 it recorded revenues of $14 million and expects to touch $20 million by June 2005. |
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