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Tyco subsidiary sets up hi-tech plant for global outsourcing

Fakir Chand in Bangalore

Precision Interconnect (PI) India Ltd, a wholly owned subsidiary of the US-based $6.5-billion Tyco Healthcare Ltd, has set up a hi-tech cable interconnect assembly plant at the International Technology Park Ltd (ITPL) at Whitefield, on the outskirts of Bangalore, for global outsourcing from India.

As a major outsourcing facility, the Indian subsidiary will be a leading supplier of cable assemblies to its global ultrasound medical equipment manufacturers (OEMs), especially in the Asia-Pacific region.

With India fast emerging as a high growth area for medical and healthcare, the state-of-the-art plant, set up with an investment of over $1-million, will also meet the demands of the Indian OEMs across the country for high-quality interconnect systems.

Being a pioneer and innovator, Precision Interconnect is recognised as a world leader in design and manufacture of complete, turnkey cable assemblies for ultrasound OEMs, including GE Medical Systems.

PI also makes high-performance interconnect systems for medical devices, used worldwide in monitoring patients to gather critical vital signs information and data.

"We are looking at Asia as a big potential for outsourcing components for our healthcare products to support our worldwide facilities in the US, Mexico, and Germany.

We have also set up resources to identify and quality vendors from India to supply components for our global facilities at Portland in the US, and Dusseldorf in Germany," disclosed PI's president Victor G Petroff in Bangalore on Tuesday on the eve of the plant's inauguration.

Bringing world-class medical interconnect systems to its customers across Asia, Precision is a vertically integrated supplier, offering the widest range of capabilities in engineering and manufacturing to the ultrasound industry.

PI also provides user-friendly interconnect systems which deliver critical diagnostic and guiding images. They are built to endure the mechanical stresses of hand-held medical devices.

"We work in close partnership with our OEM customers to understand their needs and provide the most appropriate, cost-effective solutions," said PI India's managing director Dan Tidwell.

However, due to confidentiality of the company's information, neither of the PI's officials could give its investment plans, customer base, revenue projections, and when the subsidiary would be able to break-even.

Having shut its Chinese plant recently for reasons not disclosed, PI has moved its facilities to India for making it a major sourcing base for the Asian region. As a result, it had to shift a major part of the machinery to India, and import rest of the equipment to assemble the Bangalore plant in a record time.

The company will also be importing the raw materials substantially to maintain its world class quality of its products and technology. Though PI India will be a subsidiary of the parent company, Tyco Asia Investments Ltd, formed to set up Tyco's other Asian operations, will have the controlling stake.

As a subsidiary of the $29-billion Tyco International Group Ltd S.A., Tyco Asia Investments Ltd., a leading international conglomerate with global resources, financial stability, and an ongoing commitment to the medical industry.

Tyco International is the world's largest manufacturer and provider of electrical and electronic components, besides undersea telecommunications systems. The group operates in more than 100 countries and has over 200,000 employees.

It also the world's largest manufacturer, installer, and provider of fire protection and electronic security services, besides flow control valves. It has leadership position in disposable medical products, plastics, and adhesives.

The Group's Healthcare and Specialty Products segment manufactures a wide range of products used in packaging, including polyethylene films, laminated and coated products, besides a wide range of disposable medical products, as well as other specialty products.

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