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(Sharecast News) - DiscoverIE Group announced a "major expansion" of its manufacturing capacity in India on Wednesday, opening a new facility in Bangalore to meet growing domestic and international demand.
The customised electronics manufacturer said the 9,000-square-metre site in Jigani more than doubled the footprint of its existing Bangalore operation and provided three times the capacity.
The operation forms part of DiscoverIE's Noratel business, which makes specialised power transformers and magnetic components for electrification applications. Around 70% of current production serves Indian customers, including renewable energy and infrastructure markets.
The expansion follows the UK-India Free Trade Agreement coming into force in July and "reflects our confidence in the country's long-term growth prospects and the opportunities we see supporting customers across multiple markets", according to DiscoverIE boss Nick Jefferies.
DiscoverIE shares were up around 0.3% at 784p by 1320 BST.
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