NewZNew (New Delhi) : Lumax Industries Limited (BSE: 517206 | NSE: LUMAXIND), the leader in Automotive Lighting and illumination products has made strategic business move in “Taiwan” and inaugurated its State-of-the-art Design Centre in Taiwan to strengthen its in-house design capabilities. The new Design Centre has been inaugurated by Mr. D.K. Jain, Group Chairman.
The opening of the Design Centre is seen as a strategic step towards Company’s self-reliance initiatives and making designing- cost competitive. The new establishment is a testimony to the close ties between Lumax and its business partnerships with Taiwan that span some 36 years. 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.
Taiwan offers many advantages viz. an excellent geographic location, comprehensive supply chain, industrial clusters, strong manufacturing technology, a hardworking quality workforce, innovative R&D and management capabilities. The company annually purchases roughly NT$350 million from Taiwan’s tooling, machinery and equipment suppliers.
D.K. Jain, Chairman said, “The Design Centre in Taiwan will synergise the Company’s efforts to deploy best practices in its manufacturing engineering to produce highly integrated innovative products in addition to capitalising on the strategic advantage of Taiwan as an established and high quality, yet cost effective, destination for tooling”.
The Design Centre-Taiwan will fulfil ever-evolving market needs for innovative lighting solutions and reduce the development time for technologically advanced products. It will also be an interface with key markets of automotive lighting tool makers including China and Korea and Program Management Team of Lumax.
In line with Company’s ongoing business strategy, it has already established a Design Studio and a New Technology Group at its Chakan Plant in Pune, Maharastra, which has become operational successfully.