Press Announcement:
October 2007
Notice of a significant development in the Electrical Solutions Market in India..
ECS and CPHTT are pleased to announce the formation of a new joint venture company to
serve the carbon brush, commutator and magnetics industries in India. The new company will retain
the name of CPHTT with ECS Holdings of Cary, NC acquiring a 49% interest in the business. This
underlines the significance of the Indian market and is a clear, long-term commitment from ECS to
provide technology solutions in India, in strategic partnership with CPHTT.
The new company combines
the local service and technical support of CPHTT and makes available the product technology of ECS global
companies to the Indian electrical, automotive and consumer goods markets.
During the fourth quarter of 2007 the new company will establish production operations in India for carbon
products and develop a technical and service centre for the provision of related products from other ECS global
partner locations. CPHTT and ECS believe that this will offer a superior value proposition to customers in the Indian market.
The establishment of local production in India will involve the transfer of production equipment, processes and technology
from Europe, present and future, some of which will involve the relocation of existing parts currently produced outside
of India.
Gary W Riley, President and CEO of ECS Holdings, comments: “India is now becoming a major market for
technology solutions. The announcement, today, underlines the commitment of ECS to support our customers globally and to
invest in growth markets. Our partnership with CPHTT makes leading ECS technology available to the Indian market
and provides the means to support this locally".
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