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Home arrow News arrow Alliances and Joint Ventures arrow Lumax Auto forms JV with Italian firm for emission systems
Lumax Auto forms JV with Italian firm for emission systems Print E-mail
Written by Arjun   
Friday, 28 September 2007
 PUNE: Auto parts maker Lumax Auto Technologies Ltd has formed an equally owned joint venture, Lumax Cornaglia Auto Technologies (LCAT), with Turin-based Cornaglia group to make emission systems, according to a report published by the Economic Times on Thursday.
 
 Deepak Jain, executive director of Lumax Industries was in Pune for the signing of the agreement with the Italian partners.  "Manufacturing will start in 2009 (at a new plant), but in the interim we will start manufacturing in a company location near Pune," Lumax's director Deepak Jain was quoted as saying. He said that the plant will be set up in Chakan.

 The JV will have an initial investment of 500 million rupees and already has orders for a similar amount from Tata Motors, Fiat and Bajaj Auto, the report said.

 Amol Jain, executive director, Lumax Industries, is reported by ET to have said  that critical processes will be concentrated at the mother plant at Chakan, while local assembly plants will be erected at the original equipment manufacturer’s location.

 LATL is a part of the DK group of companies whose flagship company is Lumax Industries Limited (Lumax). Lumax is the leader in automotive lighting systems and has a technical and financial collaboration with Stanley Electric Co. Ltd. (Stanley) of Japan. Mr. Dhanesh Kumar Jain has been responsible for the growth of Lumax and its present leadership status in the auto component industry in the country.

 LATL manufactures components for two, three and four wheeler industries. It manufactures Sheet Metal products, Lighting systems, Gear Shift Levers and Parking Brakes for two. three and four wheelers. Its main customers are Bajaj Auto Limited, Maharashtra Scooters, Maruti Suzuki and Lumax Industries Limited.The compny has an annual turnover of Rs. 2166.85 Million. The total number of plants, now at 18, will rise to 23 by the end of this fiscal.
 
 Cornaglia group is a a €250 million, 90-year old, family-owned company and is a key supplier to Fiat.
 
 LCAT has applied for land to locate itself inside the Bajaj Auto vendor park at Chakan, the site of Bajaj Auto’s four-wheeler production and is expected to supply the full vehicle emission system for Bajaj Auto’s four wheeler and the Tata commercial vehicles.

 This is the first vehicle emission systems manufacturer in the country which will roll out systems that are Euro III and IV compliant.

 Overseas component makers are forming joint ventures with Indian firms to supply to global auto makers that are setting up plants in India.
 
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