Delta foresees Indian sales tripling to $1 billion

       Delta Electronics (Thailand)Plc expects its sales in India to more than triple to US$1 billion in three years as demand climbs, said executive director Anusorn Muttaraid.
       "India is a big opportunity and is also a good gateway for exports to Europe,Africa and the Middle East," Mr Anusorn said in an interview in Mumbai yesterday."We are bidding to supply equipment to the local power companies."
       The SET-listed unit of Taiwan's Delta Electronics Inc is building plants in India to make electronic equipment and components to supply the world's secondfastest growing economy. The company expects $300 million in sales from India this year, compared with $200 million last year.
       The Samut Prakan-based company makes switching power supply equipment for telecom companies and video display screens.
       Delta will need to increase workers in India to almost 20,000 from 2,000 at present to boost its sales."India offers a large reserve of educated men and women who can be trained for the company's requirements," Mr Anusorn said.
       Delta may add another facility in India's northeast to its existing three plants at Gurgaon, near Delhi, Pondicherry and in Uttarakhand state in northern India,he said. It may spend $50 million initially on land and construction and an equal amount later, he added.
       The company expects revenue to pick up with an economic recovery in the US and Europe. Delta last year had sales of 32.9 billion baht, of which exports contributed 53%. Its first-half profits this year were 812.3 million baht, down from 1.42 billion in the same period last year.
       DELTA shares closed yesterday at 18.30 baht, up 10 satang, in trade worth 53.25 million baht. The stock has gained 49%this year, compared with a 65% advance in the SET Index.