Sanmina Corporation and Reliance embarks on joint venture to manufacture State-of-the-Art Electronics Hardware

Sanmina Corporation (Sanmina) (NASDAQ: SANM) and Reliance Strategic Business Ventures Limited (RSBVL) have announced the completion of their previously announced joint venture transaction on October 5. Sanmina Corporation is a leading integrated manufacturing solutions company and RSBVL is a wholly-owned subsidiary of Reliance Industries Limited (RIL), India’s largest private sector company.

This partnership will leverage Sanmina’s 40 years of advanced manufacturing experience and Reliance’s expertise and leadership in the Indian business ecosystem. The day-to-day business will continue to be managed by Sanmina’s management team in Chennai, which will be seamless from an employee and customer perspective.

The joint venture will create a world-class electronic manufacturing hub in India, in line with the Prime Minister's “Make in India” vision. The joint venture will prioritize high technology infrastructure hardware, for growth markets, and across industries such as communications networking (5G, cloud infrastructure, hyper-scale datacenters), medical and healthcare systems, industrial and cleantech, and defense and aerospace.

In addition to supporting Sanmina’s current customer base, the joint venture will create a state-of-the-art ‘Manufacturing Technology Center of Excellence’ that will serve as an incubation center to support the product development and hardware start-up ecosystem in India, as well as promote research and innovation of leading-edge technologies.

All the manufacturing will take place at Sanmina’s 100-acre campus in Chennai, with the ability for site expansion to support future growth opportunities as well as to potentially expand to new manufacturing sites in India over time based on business needs.

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