July 12, 2016: Lumax Industries Limited, the automotive lighting and illumination solutions company, has plans to set up research and development (R&D) production facility of its LED lighting segment in Andhra Pradesh (AP), India. For the set up, a sophisticated delegation from the publicly-listed firm will be visiting Amaravati, the capital of AP soon with the aim to explore the likelihood of establishing its R&D division, manufacturing facility and business operations in Amaravati.
Prakriya Group of Companies, headed by Potluri Krishna Mohan, has invited Lumax to set up its operations and production facilities in AP. The delegation is scheduled to include Dwivedi, Sr Vice-President, Manjeet Dabas, India Business Head, Praveen Thomas, Regional Head (South) and Suresh, AP and Telangana Area head, Lumax Industries.
Lumax to set up LED R&D facility in Andhra Pradesh
Prakriya Group also said that the company will be making concerted efforts to acquire the Lumax facility to AP. After holding talks with Lumax, the company will discuss with the government and see to it that the new division gets launched AP.
Prakriya has been trying to catch the attention of investors into AP through dairy parks and other schemes, which also comprise inviting other companies to establish units in AP.
Lumax has clocked revenues of Rs 1,255.2 crore in 2015, with its viewpoint for the present fiscal being Rs 1,404.8 crore. Currently, the company acquires less than 5% of its income from LED industry, which is likely to increase around 20% within the next five years.
Lumax has an industrial and financial partnership with Japan’s Stanley Electric and at present, the company has nine manufacturing locations all over India. It is engaged in the production of automotive lighting solutions such as tail lamps, head lamps, commercial vehicles and tractors and auxiliary lamps for four-wheelers and two-wheelers.