Gemini Comm to set up RFID tag manufacturing plant
Chennai-based Gemini Communication Ltd on Wednesday said it would set up a manufacturing plant for Radio Frequency Identification (RFID) tags, a technology superior to barcode, with an investment of Rs 18 crore by September.
By PTI |
MUMBAI: Chennai-based Gemini Communication Ltd on Wednesday said it would set up a manufacturing plant for Radio Frequency Identification (RFID) tags, a technology superior to barcode, with an investment of Rs 18 crore by September.
The company also became the largest player in the wireless space in South Asia following the acquisition of Clear Blue Llc and brand PointRed Technologies, USA.
"The plant with a capacity (to manufacture) 6,000 tags an hour is most likely to be set up at Baddi in Himachal Pradesh and should be commercially ready by September," company Chairman Vijay Kumar said here, adding that negotiations were on with global retail majors, Walmart and Tesco, for supply of these tags to them.
Envisaged as a replacement to the older barcode technology, RFID is an automatic identification method with superior advantages in the spheres of inventory tracking, retail and credit cards among others.
On the acquisition, the Chairman said that Gemini is the first Indian firm to acquire a Silicon Valley company.
"With this we have become the largest wireless broadband company in South Asia," Kumar said.
"We have been selling products of other companies but through this acquisition we will now be promoting our own brand and accessing international markets in a short time," he said, adding Gemini plans to acquire five per cent of the international market share.
The acquisition would increase our sales to about Rs 200 crore, he added.
Notably, PointRed Technologies was funded by Acer Technology Ventures, America, to the tune of $9.7 million.
The company also became the largest player in the wireless space in South Asia following the acquisition of Clear Blue Llc and brand PointRed Technologies, USA.
"The plant with a capacity (to manufacture) 6,000 tags an hour is most likely to be set up at Baddi in Himachal Pradesh and should be commercially ready by September," company Chairman Vijay Kumar said here, adding that negotiations were on with global retail majors, Walmart and Tesco, for supply of these tags to them.
Envisaged as a replacement to the older barcode technology, RFID is an automatic identification method with superior advantages in the spheres of inventory tracking, retail and credit cards among others.
On the acquisition, the Chairman said that Gemini is the first Indian firm to acquire a Silicon Valley company.
"With this we have become the largest wireless broadband company in South Asia," Kumar said.
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"We have been selling products of other companies but through this acquisition we will now be promoting our own brand and accessing international markets in a short time," he said, adding Gemini plans to acquire five per cent of the international market share.
The acquisition would increase our sales to about Rs 200 crore, he added.
Notably, PointRed Technologies was funded by Acer Technology Ventures, America, to the tune of $9.7 million.
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