MIC Electronics Limited (B.S.E Code: 532850), global leader in design, development & manufacturing of LED Video displays & high end Electronic & Telecommunication equipment has entered into a Joint Venture with Taiwan’s leading manufacture of home lighting appliances leader, Home Resources Ind. Co. Ltd. (HR)
HR is a reddot design award winner in 2008 and has patented its products in Europe, US, China, Hong Kong and Taiwan. The agreement aims at joint development and manufacture of innovative and cost effective LED Lighting products for both urban and rural applications in India.
The agreement was signed by Dr. M. V. Ramana Rao, Chairman and Managing Director of MIC and Mr. Sam Chen, President of HR and Honorary Chairman of Taiwan Lighting Fixture Export Association.
The products covered in the agreement will be a family of LED portable lights that will be ideal for grid based and off-grid based applications with features that include choice of direction and colour of light, provision of FM Radios in addition to product elegance and economy. HR will also provide MIC, manufacturing assistance to MIC to cope with the volume demands.
The agreement envisages manufacture of around 100,000 lights in the next 6 months and around a million in the next 18 months.
Commenting on the event Mr. M V Ramana Rao, Chairman & Managing Director, MIC Electronics Ltd said, “MIC will customise HR’s products to meet India specific conditions in terms of quality of power and also will adapt the products for meeting rural requirements. MIC and HR will thereby be exclusive to each other for operations in India.”
About MIC Electronic Ltd:
MIC Electronics Limited. is a global leader in the design, development & manufacturing of LED Video Displays, high-end Electronic and Telecommunication equipment and development of Telecom software since 1988.
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Today, MIC's flagship products are LED Video Displays (indoor / outdoor / mobile), that have become an integral part of Sports Stadiums, Transportation Hubs, Digital Theatres and Theme Parks, Advertisements and Public Information Displays.
Headquartered at one of the fastest emerging IT cities, Hyderabad (India), it has nation wide presence in the form of a vast network of marketing, sales and service support centres in all metros of India. To meet the demand of its products worldwide, it has offices in Australia,Korea and USA. Now the company is gradually setting up operations in other international markets.
About Home Resources Ind. Co. Ltd
Home Resource was established in 1988. Since then, the company has developed into one of the most professional lighting manufactures in Taiwan. It aspires to be the leading lighting company in Taiwan and China. It mainly supplies variety of lighting products: LED Lighting fixture, spotlights, Alum Exterior lanterns, Alum bulkheads, street lamps, garden lights, flood lights (projectors), metal halide and high pressure sodium fixtures.