SOURCE: India Globalization Capital, Inc.

India Globalization Capital, Inc.

April 16, 2010 08:00 ET

India Globalization Capital Announces the Appointment of a Key New Member of the Management Team in India

Kuljit Singh Brings Wealth of Operational Experience to IGC

BETHESDA, MD--(Marketwire - April 16, 2010) -  India Globalization Capital, Inc. (NYSE Amex: IGC), a company competing in the rapidly growing materials and infrastructure industry in India, today announced that they have appointed Kuljit Singh, age 56, as their new General Manager of their rock aggregate and logistics business in India reporting to the CEO. 

In this vital position, Mr. Singh will be responsible for all operations related to the two existing quarries that are now generating new incremental revenues for IGC. He will also be responsible for the 3 additional quarries, which the company expects to bring on line in this fiscal year. He will be stationed in Nagpur where the quarrying and logistics businesses are located.

Ram Mukunda, Chief Executive Officer of India Globalization Capital, commented, "We are delighted that Mr. Singh will be joining the IGC team. His extensive experience in operations and project management will be critical in these businesses which are growing very rapidly and we expect will be significant drivers of operational profitability this year. As we have said, IGC has a unique opportunity among US listed companies to exploit the expected high growth in India's infrastructure industries. Mr. Singh's addition to our management team in India better positions us to execute on the opportunities before us."

With 34 years of dedicated service in the Indian Army, most recent appointment in Rank of Brigadier as Deputy Director General at Army Headquarters, Kuljit brings with him a wealth of knowledge and experience in logistics planning, project management, human resource management and training. As Deputy Director General at Army Headquarters, he managed major infrastructure and engineering projects and joint ventures throughout the country. Immediately prior to joining IGC, he was an Infrastructure and Projects Advisor to Carnation Auto India Private Ltd, assisting the company's senior management with engineering projects and procedural processes and systems.

Mr. Singh has an MBA in Operations Research and Systems Analysis from University of Pune, as well as an ME and a BE from the College of Military Engineering.

About India Globalization Capital
India Globalization Capital is an infrastructure and materials company operating in India, building roads, bridges and highways, and provides materials to the infrastructure industry in India and China. The Company has offices in Maryland, Mauritius, Nagpur, Cochin, Delhi, and Bangalore. For more information about India Globalization Capital, please visit www.indiaglobalcap.com.

Forward-Looking Statements:
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements reflect management's current views and are subject to risks and uncertainties that could cause actual results to differ materially from those projected, expressed or implied in these statements. Factors that could cause actual results to differ, relate to: (i) ability of the parties to successfully execute on contracts and business plans, (ii) ability to raise capital and the structure of such capital including the exercise of warrants, and (iii) exchange rate changes between the U.S. dollar and the Indian Rupee. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events, or otherwise. Other factors and risks that could cause or contribute to actual results differing materially from such forward-looking statements have been discussed in greater detail in the company's definitive proxy statement and supplement filed with the SEC and incorporated by reference into the Form S-3.

Contact Information

  • Investor Relations Contact:
    Howard Gostfrand
    American Capital Ventures
    305-918-7000
    Email Contact