The Hindu Business Line : Luminous Power enters China

Mumbai, Aug. 12 New Delhi based electronics manufacturer Luminous Power Technologies has forayed into the China market in order to manufacture and export its products from there.

The company has setup its wholly-owned subsidiary in Guangdong Province of China; it will export its products to countries in South Africa, Latin America and West Asia.

Luminous has outlined an investment programme of about $5 million for China; it has already pumped in $3 million for the plant to go live, Mr Sunil Bhalla, Director, Luminous Power Technologies, told Business Line here on Tuesday.

It currently exports to about 32 companies; with its China foray, the company will double its reach. “By the end of this year, we want to enhance presence in whole of Africa, West Asia and the Asian subcontinent,” said Mr Bhalla. The China factory will manufacture all of Luminous` power electronic products with key focus on UPS. In India the company manufactures manufacturing inverters, UPS and batteries from its plants in Baddi and Gagret, both in Himachal Pradesh, added Mr Bhalla.

The company has invested more than Rs 50 crore for its manufacturing facilities in the last two years. Established in 1988, Luminous manufacturers and exports inverters, UPS, batteries and renewable Energy Product. Last year, CLSA picked up a minority stake in the company for an enterprise valuation of $20.3 million.

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