WeP Peripherals to invest Rs 25 cr in expansion

WeP Peripherals Ltd, which provides IT peripheral products, is investing Rs 25 crore this fiscal in expanding its manufacturing facilities in the country.

The company's manufacturing plants are located at Mysore in Karnataka and Nalagarh in Himachal Pradesh. Its third plant is coming up in Himachal Pradesh (at Baddi) for an investment of Rs 15 crore. The 60,000 sft plant will become operational in one month.

The company is also expanding its existing plant in Mysore with an investment of Rs 10 crore.

"We intend to add 40,000 sft over the next six months at the Mysore plant. Both projects are aimed at increasing the production of printers, UPS sets and other peripherals," WeP Peripherals MD & CEO Ram N Agarwal said.

He said the company was funding the expansion through internal accruals. Last fiscal, the company recorded a turnover of Rs 370 crore.

On Monday, Select Technologies, a subsidiary of WeP Peripherals, signed an MoU with Tandberg Data Asia to market RDX QuikStor, a removable data system.

"Select Technologies will market RDX QuikStor to small and medium businesses, and small office home office markets in India through channel partners," Tandberg Data Asia MD Raymond Kang said.