According to reports, in a bid to enter the Light Emitting Diode (LED) Modules business in India, BrightLite Systems – a Singapore-based company has joined hands with Fiem Industries Ltd – a Sonipat-based auto company.
The move is expected to create business of around Rs 300 crore and generate job opportunities for near 300 to 500 people in next three to four years. The MoU signed between the two companies suggests that BriteLite would provide technical support to Fiem for designing and manufacturing LED Modules in India.
While sharing the details of MoU, JK Jain, CMD, Fiem Industries Ltd said, “Apart from the technical support BrightLite would also help us in aspects of design, development, testing, quality assurance and product validation, for all LED luminaires. In turn BrightLite would get royalty.”
S Narayanan, head, international operations, Fiem Industries Ltd said, “LED Modules are a combination of high power LED technology, smart electronics, hard optical lens and metallic housing retrofit.”
“A major chunk of the manufacturing of the LED modules will be taking place in our newly established LED division â€” Green Energy Division at Tapukara (Rajasthan). Design, development, marketing and some other departments are located at Rai (Harayan) plant. Collectively, we expect additional manpower of around 300-500 people within the next three years,” said Narayanan.
As far as the capital expenditure is concerned, Jain informed, “Fiem already has sufficient resources. The company will expand with increase in scales and volumes. In the near future we will expand capacities by internal accruals and bank finances.”
Fiem Industries have the exclusive rights for selling LED modules in India. “We can export to foreign countries after consulting our technology partner. BrightLite, in fact wants to create a global hub in our Green Energy Division for export to other countries,” said Narayanan.