Global advanced frequency control and timing solutions manufacturer Rakon, on Wednesday, inaugurated a 100,000 sq ft facility in Bengaluru’s SEZ Aerospace Park, replacing two facilities it had previously leased in the city, as it seeks to expand the company’s presence and production capacity in India.
The high-tech manufacturer, which had first entered the country 15 years ago, has plans to further expand here by transferring business from other countries like New Zealand and France to the new facility, which is set to serve as a manufacturing and R&D hub that will also cater to India’s growing space, defence and telecom markets, the company’s CEO Sinan Altug told DH.
“Our long term plans include substantially increasing our presence in India. This is not only for servicing our global customers but also to service and address the extremely active domestic market of wireless networks in the country. We are an active participant in the 5G rollout. The domestic space and defence market is also very promising to us,” the chief executive said in a telephonic interview
Rakon has already invested a hefty $10 million in building its new facility and aims to inject a further $35 million in the coming 3-5 years, while also increasing its current employee base of 500 by 60%, Altug said. Going forward, Rakon expects that India, which accounts for 25-35 per cent of the company’s annual revenue currently, may contribute upto half of all revenues, Altug noted, adding that Rakon is eyeing a number of government schemes to generate business. The company, which is based and publicly traded in New Zealand, clocked in a revenue of $180.3 million in FY23, an increase of 5% year over year. Deccan Herald