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Technology Stocks : American Power Conversion

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To: Stephen Tomasetti who wrote (1372)	5/21/1997 4:19:00 PM
From: Candle stick	of 2574

American Power<APCC.O> to set up Indian subsidiary NEW DELHI, May 21 (Reuter) - U.S.' power protection equipment maker American Power Conversion Corp <APCC.O> said on Wednesday it had received the Indian government's approval to set up a wholly-owned subsidiary in India. "The Foreign Investment Promotion Board approval gives us the go-ahead to establish a manufacturing facility in India to serve the entire South Asia region," a company statement quoted American Power Conversion India director Sriram Sivaram as saying. "This has accelerated our plans to increase investments in India," he said. "Over the course of the next five years, APC plans to establish a research and development centre and a manufacturing base in India, which is expected to employ and train over 500 people," the statement said. It did not spell out the total amount of investment planned. REUTER Rtr 12:15 05-21-97

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