BANGALORE, May 7: Tektronix India (TIL) will become a wholly-owned subsidiary of Tektronix Inc of the United States. This follows Tektronix Inc's policy of operating through wholly-owned subsidiaries worldwide.

Tektronix India managing director Brijesh Wahi told The Indian Express that ``there will be no change in the business orientation of the company. The parent company prefers not to involve an Indian partner or the public in its future decision-making''.

Wahi said that the company's customer base, manufacturing facilities or scale of operations would undergo no change. In other words, everything remains the same as there is no material change to the profile of the company, he said. The company is at present involved in assembling and distributing of measurement equipment, colour printers and video and networking equipment.

Tektronix India, formerly Hinditron Tektronix India, was set up in partnership with the Hinditron group and public participation. In 1995, owing to a change in government policies, Tektronix Inc raised its holding to 62.38 per cent by picking up its Indian partner's stake of 22.38 per cent.

Tektronix Inc later decided to delist TIL's 13.54 lakh shares from the stock exchanges comprising 37.62 per cent of the company's paid-up share capital.

Tektronix Engineering Development India (Tedi) plans to come out with a public issue at Rs 40 per share, Wahi said. A resolution to this effect will be moved at an EGM.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.