USA Based Imation Forays Deep Into Indian Market, Opens Its Fully Owned Subsidiary

USA Based Imation Forays Deep Into Indian Market, Opens Its Fully Owned Subsidiary

New Delhi, October 17, 2005 – US based Imation Corp. (NYSE: IMN) – a global leader in removable data storage media, for personal computers, servers and other devices today announced the Setting up of Imation India subsidiary, Imation India Pvt Limited (“Imation India”) with an aim to increase its market share in the growing Indian market and better customer service support.

Imation India with headquarter in New Delhi, will have three other offices in Mumbai, Chennai and Calcutta.

“This is an important milestone for Imation. India is a growing and challenging market. IT literacy is proficient and leaps ahead of other Asean countries. With the supportive government, and liberal and conducive environment for foreign participation, we are confident and eager to expand our foothold in India, and to grow the data storage industry as whole” says Nancy Tan, Managing Director, Imation South Asia Region.

“We’ve been operating in India since 1996, working through our distributors and dealers in our representative offices. With this new setup, we will continue to work closely with our partners to directly engage with our end-user customers to better understand and serve their needs. This is our commitment to our loyal end-user customers, and our partners” added Peter Raymond Campbell, Business Development Director, Imation India & Emerging Region.
Imation has been in the data storage business for more than 50 year! From its origins as 3M’s Data Storage Division – to the birth of Imation in 1996 – to today, Imation continues to pioneer today’s proven magnetic and optical media technologies. In 1952, Imation developed the world’s first computer tape for use with IBM tape drive. We have since gone on to develop many more innovative products such as disc stakka, swivel flash drives, Tera Ã…ngstrom Terabyte tapes, Information Management Solutions and more.

As of today, we have more than 300 scientists and 330 data storage-related patents in the United States, Imation continues to pioneer today’s proven magnetic and optical media technologies.Mr Ajit Karunakaran heads the India team. Ajit is part of the original India team, and has been responsible for this market since 2003. Ajit reports directly to Peter Raymond Campbell.

“My team is made up of enthusiastic and experienced personnel. Over the years, we have doubled to an 8-man strong team, and well supported by a global strength of over 2000 staff, of which 300 are scientists. We seek to enhance customers’ experience with our full range of Imation data storage solutions,” says Ajit Karunakaran.

For more information on Imation, please visit www.imation-southasia.com.