Lumax Industries to spend Rs 200 cr on expansion

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New Delhi, Feb 12 (UNI) Automotive lighting solutions company, Lumax Industries Ltd, today said it plans to invest Rs 200 crores to set up new plants and modernise existing ones.

Lumax accounts for over 60 per cent market share in Indian Automobile Lighting Business, fueled in by its two decade old technical and financial collaboration with Stanley, Japan.

Lumax has seven manufacturing plants with two located in cities of Gurgaon, three plants in Pune and one plant near Chennai.

The Indian Promoters hold 26 per cent in the company, 28 per cent by Stanley and 46 per cent by Public and Corporate bodies.

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