Tata Sons board visits Bengaluru, Hosur units as company gears up for chipmaking

economictimes.indiatimes.com:

Tata Sons management last week took its entire board, including industrialists Venu Srinivasan and Ajay Piramal, to Hosur and Bangalore to familiarise them with the facilities at Tata Electronics that will likely be the primary chip-making vehicle at the Rs 23-lakh-crore conglomerate, which has earmarked about $90 billion of investments into its future growth drivers. Tata Electronics hosted the entire Tata Sons brass for its board meeting, where Chairman N Chandrasekaran discussed the future growth plans, top sources aware of the plant visits told ET. Barring Ralph Speth, other directors present were Harish Manwani, Leo Puri, Vijay Singh, Srinivasan, Bhaskar Bhat, Anita George, Saurabh Agarwal and Piramal. Tata Sons did not comment. Tata Electronics, though, is not expected to rush into the semiconductor business until the business is stabilised and will seek suitable alliances and partners, officials said. Earlier this week, Foxconn decided to end its deal with the Vedanta Group to make chips in India. In April, Tata Electronics appointed Randhir Thakur, former president of Intel Foundry Services, as its MD & CEO, underscoring the group's long-term semiconductor ambitions. For now, the plant is focused on manufacturing precision components. It makes components for iPhones and has tied up with Apple vendors to manufacture iPhone enclosures.

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