Lumax Auto Technologies Inaugurates Pantnagar Plant for Bajaj Auto

Lumax Auto Technologies Ltd has announced that on April 08, 2007 the Company has inaugurated its eighth plant through its 100% Subsidiary Lumax DK Auto Industries Ltd to manufacture Automotive parts at SIDCUL, Pant Nagar (Uttaranchal) for supply to Bajaj Auto Ltd.

The Company's plant is commissioned in the record time of about nine months with capital investment of around Rs 23 Crores and will have production capacity to manufacture quality. Automotive parts for 1 million two wheelers. The Company is a part of the DK Jain Group of Companies whose flagship Company is Lumax Industries Ltd (Lumax). Lumax is one of the leading manufacturers in Automotive Lighting Systems and has a technical and financial collaboration with Stanley Electric Co. Ltd. (Stanley) of Japan.

Speaking on the occasion, Mr. D K Jain, Chairman, of the Company said, "We are privileged to be associated with Bajaj Auto Ltd in Pant Nagar-Uttaranchal also as one of their 16 preferred Vendors who have been invited by them to set up manufacturing facilities near Bajaj Auto plant in Pant Nagar. Lumax has over three decade's association with Bajaj Auto which will provide huge growth opportunities to LATL in future."

LUMAX's plant will promote engineering skills, industrial culture, and fruitful engagement of manpower, direct and indirect employment, work ethics and prosperity in the region, which is quite in line with the government's vision of development for Uttaranchal.

Source : Equity Bulls

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