Amber Group and Korea Circuit Inks Joint Venture to Bring World Class HDI, Flex, and Semiconductor Substrates PCBs manufacturing to India

The Amber group and Korea Circuit, a pioneer of the Korean PCB industry, are proud to announce the Joint Venture (JV) for manufacturing PCBs into India. The JV sets the strategic foray into high technology and advanced manufacturing of HDI, Flex and Semiconductor substrates PCBs. This collaboration embarks on the shared vision of the bringing world class technology and manufacturing excellence to India and cater to fast growing domestic Electronics demand.

The Amber Group, through its subsidiary IL JIN Electronics, and Korea Circuit will hold 70% and 30% ownership respectively in this JV.

In line with the 'Aatmanirbhar Bharat' vision of Government of India, this JV further strengthens the domestic value addition of the industry and capabilities for import substitution.

On way forward, we will begin scouting for land to co-create a new state-of-art facility, while we await for finalisation of the Government's plan on Electronics Components Manufacturing Scheme.

Mr. JASBIR SINGH, Executive Chairman and CEO of Amber Group, commented: "The JV would leverage Korea Circuit's experience of more than 4 decades in PCB production and help us develop competitive advantage to grow fast, additionally bring the connect with marquee global customers. This JV will expand our horizons into newer segments including mobile, module and semiconductor industry.

This collaboration, will further strengthen the offering of recently acquired Ascent Circuit portfolio, marks the revolutionary progression of Amber Group into a leading full stack backward integrated EMS company, through wide product offering of HDI, Flex, Semiconductor Substrates, Multilayer, Double Sided and Single Sided PCB."

Mr. SE JOON CHANG, CEO of Korea Circuit commented, "This JV will enable us to tap into the large Indian market and leverage our PCB production experience. The collaboration with Amber Group brings on table the experience of more than three decades of widespread and highly backwardly integrated operations in India.

The JV will allow us to establish an efficient and reliable supply chain through local manufacturing facility, and cater to rapidly growing demand of India."

Shares of Amber Enterprises India Limited was last trading in BSE at Rs. 5163.95 as compared to the previous close of Rs. 5143.70. The total number of shares traded during the day was 4251 in over 884 trades.

The stock hit an intraday high of Rs. 5217.20 and intraday low of 5054.05. The net turnover during the day was Rs. 21799947.00.

Source : Equity Bulls

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AmberEnterprisesIndia INE371P01015 ConsumerElectronics TheAmberGroup KoreaCircuit JV PCBs Manufacturing India