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Home arrow News arrow Business News arrow Cherry Corporation wins 'IACC-Sanmar Indo – US Business Co-operation Award’
Cherry Corporation wins 'IACC-Sanmar Indo – US Business Co-operation Award’ Print E-mail
Written by Anand   
Thursday, 24 July 2008
TVS Cherry Private Limited set to grow - mulling a third plant in Pune

Chennai: The 'IACC-Sanmar Indo – US Business Co-operation Award’ was presented to Mr. Peter Cherry, Chairman of the $425-million Cherry Corporation (CC) of the US, at a glittering ceremony organised by Indo-American Chamber of Commerce (IACC) in Chennai on Monday, July 14.

The Cherry Corporation’s association with India began in 1993 when it signed a 50:50 joint venture with the TVS Group of India. TVS Cherry Private Limited (TCPL) began operations in 1994 at the plant in Madurai, Tamil Nadu.

Currently, TCPL has two plants in Madurai and is mulling the option of starting a third plant in Pune. Last year, TCPL registered a turnover of Rs 38 crore.

The IACC-Sanmar Indo-US Business Cooperation Award recognizes the efforts of individuals or business enterprises for their significant contribution in promoting Indo-US relationships through business or economic activity. The award was presented by US Consul-General, Mr David T Hopper.

Headquartered in Illinois, USA, Cherry Corporation has three major business segments: The automotive switches and modules segment, the computer keyboard segment and switches and controls segment.

Cherry Corporation worked with TVS Group to bring in snap action switch manufacturing technology into India. TVS Cherry Limited has introduced a wide range of products such as snap action switches, rocker switches, sensors and reed relays in the Indian market. The technology shared by Cherry Corporation with TVS Cherry has contributed to the burgeoning automotive accessories, computer peripherals, consumer durables and industrial equipment segment in India.

The goodwill shared by Cherry Corporation with its Indian counterpart, the TVS Group, has sustained the joint venture and the company has achieved leadership position in its product segment. Cherry Corporation has also played a role in the globalization of the Indian operations by opening up its Indian facilities to cater to its worldwide customer segment. In 2004, an EOU unit was set up by the company to provide low cost quality products to its customers worldwide.

Mr Peter B. Cherry, said TCPL is set to grow about 40 per cent during the next couple of years to become a dedicated manufacturing hub for Cherry Corporation for some of the components and sub-assemblies.

 
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