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Press Release |
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TVS-E to explore a new manufacturing facility in HP |
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Aligns the Company's fiscal with its parent
TVS-E announces change in its accounting year
from Jan-Dec to April- March to align with its
Parent, Sundaram Clayton Limited. Consequent to
this, the company's previous fiscal year would
be for a period of 15 months ending 31st March
2005.
The Company is opting to adopt the audited
results for the 15 month period ending 31st
March 2005 before end June 05.
TVS-E Board today approved a proposal to examine
options to invest in a manufacturing facility in
Himachal Pradesh to take advantage of excise
duty and other Tax concessions. The company is
expected to decide on the feasibility of setting
up the facility in HP over the next 3 months.
According to Mr.Gopal Srinivasan, Director,
TVS-E, "The Himachal initiative represents the
continuation of our efforts to drive costs down
and to sustain its competitiveness, however
we'll closely evaluate the varied options soon.
We expect to start setting up the new facility
during this fiscal year." |
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About TVS Electronics: |
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TVS Electronics Limited, a part of the 90-year-old
TVS Group is one the largest manufacturer of Computer
Peripherals in the country. The range of offerings
includes Products - Dot Matrix printers, Keyboards,
Printing Supplies, Transaction Solutions, and Point
of Sale Products (PoS).
TVS-E has a large distribution and service network,
which reaches over 450 towns across the country
with two National Distributors, more than 200 Regional
Distributors and over 3,000 Authorized Dealer Partners.
The Company has manufacturing facilities in Tumkur,
Chennai and Himachal Pradesh |
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