Amber Group has signed an agreement with South Korea's Korean Circuit to boost its printed circuit board (PCB) portfolio, the leading player in the electronics manufacturing segment said on January 23.
The memorandum of understanding (MoU) with Korean Circuit was signed by Ascent Circuits, a subsidiary of Amber, the company said in media release. Amber acquired a majority stake of 60 percent in Ascent Circuits earlier this month.
"This association between Amber and Korea Circuit will envelop the entire
portfolio of PCBs required for various applications in India’s Electronics manufacturing growth story i.e HDI (high density interconnect), flex, semiconductor substrate, multilayer, double sided, (and) single sided," the release said.
The pact will allow Korea Circuit to gain a competitive advantage in the Indian market and help to grow its business, it said. The company, seen as a pioneer of the South Korean PCB industry, has been involved in production of printed circuit boards for more than four decades.
Amber said the MoU would strengthen its electronics manufacturing portfolio by "increasing its local value addition and backward integration into passive components of PCB Assemblies". This is in sync with the government's self-reliant India vision, and also in line with the group’s strategy of "strengthening backward integration" for its manufacturing.
On January 23, Amber closed at Rs 3,629.95 on the BSE, down 2.19 percent from the previous close.
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