Samtel Takes 70% In Thales Electron Jv

Samtel group company Teletube Electronics Ltd today announced acquisition of a 70 per cent shareholding in a joint venture with Thales Electron Devices Gmbh for manufacturing professional grade cathode ray tubes (CRT) for avionics, defence and medical devices.

Samtel is making an equity investment of Rs 10 crore to acquire this stake in a new company formed by hiving off the specialised CRT division of Thales Electron Devices (TED).

TED is part of the $10 billion Thales group which was part of French electronics giant Thomson till the group's consumer electronics and electronics businesses were hived off into Thomson Multimedia and Thales group, respectively.

 

The new company, Samtel Electron Devices Gmbh, will be based in Ulm, Germany. Samtel will also set up a manufacturing plant in Ghaziabad, up for manufacturing the same professional-grade CRTs.

"Our partnership with Thales Electron Devices in this JV is an opportunity for Samtel to expand our offering in the market for professional CRTs and to develop sustainable base for our activities in Europe," Samtel chairman and managing director, Satish Kaura said at a press conference here.