Press Release Summary = Micro Technologies (India) Limited (BSE: 532494) plans to extend its operations to the US market through its subsidiary - Micro Technologies US Inc and looks forward to a generate revenues worth Rs. 200 crore out of this operation in around one and a half year
Press Release Body = Micro Technologies (India) Limited (BSE: 532494) has finalized strategic plans to expand its operations for marketing Micro Security products in the US market. The company plans to extend its operations to the US market through its subsidiary - Micro Technologies US Inc. which comprises a core team of qualified and experienced professionals possessing expertise in marketing security solutions.
The FCCB funds worth Rs. 60 crore issued recently would be used for marketing extensive operations of Micro Products into US market. Revenue amounting to Rs. 200 crore out of this operation is expected to flow in the next 18 months.
Commenting on this development Dr. P. Sekhar, Chairman and Managing Director, Micro Technologies (India) Limited said, "The US market holds good potential for the security solutions of home, office and automobiles. We at Micro Technologies are very excited about our foray in the US. Through our consistent research on design and customization of our products I am positive to achieve our targets in the geographies we plan to enter".
Initially Micro VBB (Vehicle Black Box), an exclusive product with features of vehicle navigation and logistic solutions is among the products identified for US Markets. Another potential Micro product for US foray is Micro ACS (Access Control System), which has been taken into consideration due to various security reasons and ACS with its unique features will address the various aspects of infrastructure security and access control as a single product.
The Company had recently entered into a strategic agreement with TWI International PTY Ltd. to market Micro VBB to South Africa. Micro Technologies continues its endeavour to provide high value products with extensive safety features to the targeted segments. The segments comprise of Courier Companies, Taxis, Maintenance and Service Departments etc. at an extremely affordable cost.
Web Site = http://www.microtechnologies.net
Contact Details = Sarah Jacob Tharakan (sarah.tharakan@adfactorspr.com)
2012
