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Imation gets bullish on India

"India is clearly emerging as one of the top information technology hubs in Asia, and represents one of our major growth markets for the future," Imation Crop Vice President David H Wenck told reporters recently.

Spun off from the $14-billion 3M Corp, Imation supplies data storage products, medical imaging and photo products, printing and publishing systems and document imaging, all on a digital platform. "Imation plans to be a major supplier of removable media to digital India," he claimed.

The California-based company currently conducts about 50 per cent of its business outside the US and expects the figure to go up to 60 per cent by 2000.

Imation was created from the spin-off by 3M of its data storage and imaging business announced in November 1995. Its stock presently is being traded on a "when issued" basis on the New York and Chicago stock exchanges.

Imation's core business are creation of innovative systems, products and services related to the handling, storage, transmission and use of information.

Its operations in the Asia-Pacific encompass Singapore, Malaysia, Indonesia, Thailand, the Philippines, India, Hong Kong, Taiwan, Korea, China, Japan, Australia and New Zealand. It is also considering R&D and sales and distribution ventures in India and China.

Imation combines manufacturing and marketing of products and services formerly produced by 3M's data storage products, medical imaging and photo colour systems, printing and publishing systems, and customer support technologies and document imagine operations.

By integrating these related operations, the company plans to leverage the natural synergies between product development, manufacturing and distribution to create new market opportunities through shared technologies.

- Compiled from the Indian media

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