Fiem Industries Receives Order from Ichikoh Industries Ltd, Japan

Fiem Industries Ltd has announced that the Company has achieved another milestone by receiving prestigious order for second Project from M/s. Ichikoh Industries Ltd., Japan for manufacturing the 'Prismatic Inside Rear View Mirror Plates' under 100% buy back arrangement.

Thereafter, the Company plans to manufacture complete 'Prismatic Inside Rear View Mirror' under 100% buy back arrangement with M/s. Ichikoh Industries, Japan.

To implement this project the Company has already placed the order for the latest technology equipped machines as per specification laid down by the Ichikoh Industries. The Company expect that installation of machines will be completed by October 2007 at its EOU plant at Hosur and the regular production shall start in last quarter of the current financial year.

The stock closed the day at Rs.117.40, up by Rs.3.30 or 2.89%. The total traded quantity was 123479 compared to 2 week average of 77649. The stock hit an intraday high of Rs.132 and low of Rs.115.20.

Source : Equity Bulls

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