Sanmina Corporation (NASDAQ: SANM) and Reliance Strategic Business Ventures Limited (RSBVL), a wholly-owned subsidiary of Reliance Industries Limited (RIL), India’s largest private sector company, announced that they have agreed to form a joint venture through an investment in Sanmina’s existing Indian entity (Sanmina SCI India Private Ltd, “SIPL”).
Sanmina’s 40 years of sophisticated manufacturing knowledge would be combined with Reliance’s expertise and competence in the Indian business environment.
Sanmina’s existing management team in Chennai will continue to run the day-to-day operations, which will be seamless for employees and customers.
