By R. Natarajan, Managing Editor & Publisher, MOTORINDIA
Fiem Industries Ltd. is one of the most reputed brands in automotive lighting. Besides being one of the biggest players in the industry, it is a leading exporter. Last financial year the company achieved a major milestone by crossing the Rs. 1,000-crore sales turnover mark. This was possible only because of the company’s constant focus on product quality and innovation.
In an informal chat with MOTORINDIA, Mr. S. Narayanan, Head (Commercial & Int’l Operations), Fiem Industries Ltd., said that with the growing vehicle population in the country his company has been expanding its market share year after year. Thanks to its excellent brand awareness, Fiem has also been able to attract more & more OEMs and the overseas market segment of the industry.
As part of its ever-growing expansion plan, it has set up its state-of-the-art facility for manufacturing LED head lamps and other LED luminaires at Tapukara in Rajasthan. With this facility, the company has strengthened its infrastructure, which is now capable of catering to a big chunk of the requirement of not only the automotive industry but also of consumer and institutional demand.
In order to keep the momentum of inclusive growth, the company has taken up new products in their manufacturing scope. In this context, it has signed a Technology Licence and Assistance Agreement (TAA) with Aisan Industry Co. Ltd., and Toyota Tsusho Corporation, both of Japan, for manufacturing canister. This emission control system product has huge market in India with the enforcement of stricter emission norms for two- and three-wheelers.
Fiem has also signed an MoU with Aisan Industry Co. Ltd. of Japan for setting up a JV for manufacturing fuel pump module and IC connector assembly for two- and three-wheelers. Fuel pump module will become mandatory for two-wheelers and three-wheelers in the Bharat Stage VI regime. This is an advanced emission control system product which has huge market potential under BS-VI norms.
The company has also entered into a JV agreement with Kyowa Co. Ltd. of Japan and formed a 50:50 JV company in Hong Kong under the name and style of FIEM Kyowa HK Mould Co. Ltd. It will engage in the business of high class moulds / tooling for automotive and other applications. The new venture will have an added advantage since this will enhance the self-reliance of the company for manufacture of high-end products in this area.
Fiem has also signed an MoU with Toyodenso Co. Ltd. of Japan for a joint venture proposal for manufacturing automotive switch assemblies. Besides, it will produce bank angle sensor in India, which is a critical safety product helping the driver in minimising road accidents. This critical component is going to be made mandatory in the near future.
Fiem has been progressing continuously and Team Fiem is making all efforts for splendid growth of the company with the sole aim to become a global leader.