Stocks

Lumax Ind opens design centre in Taiwan

| Updated on January 20, 2018 Published on May 23, 2016

Lumax Industries, a leading supplier of lighting products for the automobile industry, has opened a design centre in Taiwan to strengthen its in-house design capabilities, it informed the stock exchanges. The opening of the centre is a strategic step towards the-company’s initiatives made to gain self-reliance and making designing-cost competitive, Lumax Industries said in the notice. “Besides facilitating communication between Taiwanese companies and the Indian headquarters, the well-calculated move will serve as Lumax’s springboard for doing business in Japan, South Korea and mainland China in future,” the company said. The company’s annual purchases stood at roughly NT dollar 350 million from Taiwan’s tooling, machinery and equipment suppliers. Shares of Lumax Industries edged down 1.08 per cent at ₹496.20 on the BSE.

Published on May 23, 2016
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