PCS to make, sell Olivetti products

PCS Industries, the hardware arm of the Rs 1,200 crore PCS group, has announced a tie-up with the Italy-based euro 31 billion Olivetti group to manufacture and market Olivetti's products in India.

The contract entails the manufacturing and marketing of pass book printers, specifically designed for the banking sector.

The alliance will it into a direct conflict Spicenet - the erstwhile Modi Olivetti "" that also has a similar alliance with Olivetti.

Sources said that Olivetti is eyeing a larger pie of the growing Indian market, which was not being serviced by Spicenet's annual production of around 5,000 printers.

In the current year, the demand for pass book printers is expected to be around 15,000-16,000 units.

C R Ramakrishnan, general manager, special projects at PCS, said, "The demand for automation in the banking and financial sector is increasing leading to a tremendous growth in the market for pass book printers."