 "Fiem Industries forms JV with Japanese firm Kyowa for mould making")
Fiem Industries Ltd, a manufacturer of automotive components, has signed an agreement with Japan's Kyowa Co Ltd for establishing a joint venture company in India to set up a facility with modern infrastructure for development of mould/tooling to cater to the Indian market.
Kyowa Group is engaged in designing and manufacturing of moulds for automotive, medical and other applications with proprietary technology.
“The JV will provide Fiem an added advantage as it will enhance the level of confidence among its existing and prospective customers by way of shortening the development time for tooling considerably. Besides, it will drastically reduce the dependability of the company on foreign mould manufacturers. On the other hand, this will help better control on new product development, expanding the scope of design expertise. It will also strengthen the company's technology prowess for upcoming technology on new generation automotive lamps,” said Fiem Industries in a press release on April 2, 2016.
JV will also strengthen the capability of Fiem Industries, one of the first companies in India to introduce LED lights in two wheelers, to develop technology for new generation automotive lamps.
Kyowa Group is engaged in designing and manufacturing of moulds for automotive, medical and other applications with proprietary technology.
“The JV will provide Fiem an added advantage as it will enhance the level of confidence among its existing and prospective customers by way of shortening the development time for tooling considerably. Besides, it will drastically reduce the dependability of the company on foreign mould manufacturers. On the other hand, this will help better control on new product development, expanding the scope of design expertise. It will also strengthen the company's technology prowess for upcoming technology on new generation automotive lamps,” said Fiem Industries in a press release on April 2, 2016.
JV will also strengthen the capability of Fiem Industries, one of the first companies in India to introduce LED lights in two wheelers, to develop technology for new generation automotive lamps.