ND SatCom said Wednesday it has formed a 50-50 joint venture with Grintex India Ltd.
The new company, ND SatCom-Grintex Communications Ltd, will offer the complete ND SatCom product portfolio and is based out of the multinational corporate hub at Gurgaon, just outside New Delhi.
The joint venture will address growing demand on the Indian subcontinent for satellite communications. Main-target markets will be the government and broadcast sectors of India, Bangladesh, Nepal, Bhutan and Sri Lanka.
ND SatCom, headquartered in Immenstaad, Germany, is a global supplier of satellite-based broadband VSAT, broadcast and defense communication network solutions.
Karl Classen, the chairman and CEO of ND SatCom, also will serve as chairman of ND SatCom-Grintex. Hariharan Gautam will head the new Indian company as CEO.
"From a strategic point of view, the joint venture creates a future-oriented starting point to position ND SatCom-Grintex Communications Ltd. prominently in India and the South Asian region. It is a good platform to reach out to other markets in the region," Gautam said.
"The official opening of ND SatCom's India joint venture represents our long term commitment to become a major provider of satellite communication solutions in this important emerging market," Classen said.
