Automated soldering equipment maker Apollo Seiko to form Indian sales JV
NEW DELHI, NNA - Japan’s Apollo Seiko Ltd., a major provider of automated soldering equipment, will establish a joint venture in India to enhance services and sales in the South Asian country.
The new firm, named I Apollo Seiko Pvt. Ltd., will be capitalized at $150,000 with Apollo Seiko taking 60 percent ownership, a senior executive for the Japanese firm said. Registration of the company, formed through Apollo Seiko’s Indian sales partner Accurex Solutions Pvt. Ltd., will be completed within a month or two, he added.
I Apollo Seiko will sell in India all types of automated soldering robots that are manufactured in Japan by Apollo Seiko, he said.
It will also provide after-sales services and application support to Indian customers. Apollo Seiko will continue to make soldering robots for the Indian market in Japan in the immediate future, but it might start local production if sales in India pick up, the executive said. Apollo Seiko has set a target of selling 50 to 100 units in the first year.