Finland’s Salcomp, a major supplier of chargers to Apple for iPhones has acquired Jabil Circuit, a U.S.-based electronics maker which had been defunct for over a decade, within the Nokia Telecom SEZ in Sriperumbudur, near Chennai.
“Yes, we have acquired the Jabil plant,” Sasikumar Gendham, MD, Salcomp India told The Hindu.
“This was the first company that went defunct in the Nokia SEZ in 2009. This plant will commence production by mid-2021.”
“Since the plant was closed for over a decade, a lot of renovation work needs to be done. We will manufacture electronic and electro-mechanical parts that go into phones,” he added, refusing to divulge the deal value. Sources, however, said the final transaction was worth ₹42.50 crore.
Salcomp recently acquired Nokia’s defunct plant at Sriperumbudur. When Microsoft acquired Nokia's handset business, the Chennai plant was excluded from the deal.
Mr. Gendham also said very soon the Nokia SEZ would be renamed Salcomp Park. “Work is in progress and we are working with government officials on this.” With all our acquisitions, Salcomp’s revenue will grow multifold in 2021.”
The Finland headquartered charger manufacturer inked an MoU worth ₹1,300 crore with the Tamil Nadu government and in 2019 during the second edition of the Global Investors Meet (GIM), it had given an investment commitment of ₹500 crore.
