BENGALURU: New Zealand-based high-tech manufacturer Rakon has opened a research and manufacturing centre in the SEZ Aerospace Park, Bengaluru.
Rakon, which began its India manufacturing operations more than 15 years ago, has invested over $10 million so far, and it intends to invest a further $35 million in its India operations over the next 3-5 years.
The company, which employs over 500 people, will hire 300 more over the next five years.
The new centre is said to be the largest manufacturing site for advanced frequency control and timing solutions.
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Rakon CEO Sinan Altug said, “The new facility represents an important milestone for our company and will future-proof our India operations."
Also, in the space and new space sector, Rakon is working with ISRO to develop new products for their missions and deep space programmes, including Mars Mission, Chandrayan and Gaganayan, the company said.
Rakon, which is listed on the New Zealand Stock Exchange, has seven company and partner manufacturing sites, six research and development centres, and employs over 1,000 employees worldwide.
In its annual report, the company mentioned that its revenue growth was consistently strong across all core markets. Telecommunications, Rakon’s largest market, grew by 17% to $100.6 million (FY22: $86 million) on the back of continued 5G and 4G network infrastructure growth globally.
Increased activity in both space and defence segments resulted in a 18% revenue increase, it said.