Tyco Aims to Maintain 20% Growth till 2005  

Tyco Electronics (TE) India aims for an average growth of 20 percent for the
next five years from its present status of Rs 380 crore. The newly appointed
managing director of the company, KU Subbaiah, informed this. He takes over from
Samir Inamdar who is stepping down to don the role of President and CEO of GE
Power Systems in Bangalore. The change of guard would be effective from December
1, 2002.

"The change was so quick that we are currently sticking to the plan made
by Inamdar and India business managers. The plan would be reviewed on a later
date, if necessary to keep up with the demands in the market. Whatever the
changes might be we are aiming at a growth rate of 20 percent and more on an
average for the next five years," said Subbaiah. Subbaiah would continue
his role as the chief of operations apart from taking the additional
responsibility of the managing director. "There would be no other
management changes apart from this, but internally there might be exchange of
roles if needed," added Subbaiah. TE is in the process of integrating its
manufacturing facilities in Bangalore. The new center would be leased out from a
real estate vendor and is expected to be operational from April 1, 2003. The new
facility would have additional scope for expansion, which however is not in the
company’s immediate plans, informed the company’s spokesperson.

Tyco in India, a wholly owned subsidiary of $10 billion Tyco Electronics
Corporation, has a strength of 1,200 with about 30 percent engaged in
engineering, research and development. Apart from manufacturing components for
electrical, electronics and computer industry, TE also has established four
joint ventures in the country with various domestic and overseas conglomerates.

(CNS)