Liberty to make telecom gear

NEW DELHI: Footwear major Liberty has formed a subsidiary— Sunfest Infratech and Power—to foray into the Indian telecom equipment market, and announced five tie-ups with companies from Israel, Taiwan and South Korea.

Liberty Group promoter and executive director Adesh Gupta said that the company had no immediate plans to enter into the handset market but may consider them later on.

One of the world’s top five footwear manufacturers with a turnover of $200 million, the Liberty Group created the subsidiary three years ago to cater to the telecom towers space, but has now changed its positioning to focus on telecom infrastructure, renewable energy, defence and homeland security and exploration infrastructure.

Sunfest has invested Rs 40 crore in JVs with several firms including Israelbased Runcom technologies.