Elcoteq Network Corp. (Espoo, Finland), a provider of electronics manufacturing services (EMS) for the communications technology industry, will expand its operations to Bangalore, India during 2004. The company claims to be the first EMS company offering manufacturing services to infrastructure and handset original equipment manufacturers (OEMs) in India.

Elcoteq will establish operations in Bangalore, initially operating in rented manufacturing space. The plant is expected to be operational within six to nine months. When fully operational, the plant is estimated to employ approximately 1,000 people.

"We are very proud to be the first global EMS company in the communications technology sector offering electronics manufacturing services in the country," said Hannu Keinänen, President of Elcoteq Asia-Pacific. "India is one of the fastest growing markets for mobile telecommunications, and we see great opportunities for manufacturing services in the area."

India, with a population of over one billion people, is one of the fastest growing areas for both handset OEMs and EMS providers. The key drivers underlying Elcoteq's decision to enter India are the large domestic market for mobile communications and its growth prospects coupled with other important factors such as the availability of a highly educated labor force, an attractive customer base and favorable cost levels.

www.elcoteq.com

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