Financial Daily from THE HINDU group of publications
Sunday, May 08, 2005
Financial Daily from THE HINDU group of publications Sunday, May 08, 2005 |
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Info-Tech
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Off-shore Development Pitney Bowes plans Rs 100-cr investment Our Bureau
New Delhi , May 7 PITNEY Bowes, a $5-billion US company involved in document management solutions, plans to invest around Rs 100 crore in its newly opened India operations. The company has appointed Mr K.M. Nanaiah, a mailing industry veteran, as Managing Director to head its India operations, a company release said here. Announcing New Delhi as its new headquarters for the India operations, Mr Nanaiah said: "With the opening up of our direct operations, we plan to aggressively market our mail creation equipment to fold, insert, seal and address documents and envelopes at high speed and with complete accuracy." He said that with the huge growth in bills and statements generated by credit and debit card issuers and other communication originating from telecom, insurance, education, marketing, consumer loyalty programmes, besides several other large volume mail users, the new technology offered by the company would enable firms to communicate with customers more effectively. Pitney Bowes had established a wholly owned subsidiary in the country in December last year.
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