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| Exchange Disseminated Time | MIC Electronics Ltd has informed BSE regarding a Press Release dated July 15, 2010 titled "MIC Electronics Ltd launches 15 new LED based products"
Press Release:
"MIC Electronics Ltd, global leader in design, development & manufacturing of LED Video displays & high end Electronic & Telecommunication equipment has revealed a set of 5 new LED based products categories.
MIC has always been a pioneer in LED technology & has now decided to diversify its business model by making a full fledged foray into LED Based lighting products and solutions.
MIC has planned to launch 5 new product categories with 15 variants in total. The categories of LED are given below:
LED Tube and Bulb
LED Angel - Table top decorative product
LED fittings for Modem offices
LED fittings for Hospitality industry
LED fittings for outdoor applications
The launch of above products & the future expansion plan in phase one calls for Rs.170 Crore capex which will result in a production level of Rs. 350 Crore in a full year. The first phase will be implemented at Hyderabad, new unit being set up, followed by Roorkee and Visakhapatnam.
MIC believes that people today have become more conscious of reducing the consumption of electrical energy owing to the Go Green drive spread across the world. They are self motivated to preserve nature and achieve an ecological balance. MIC realizes these & sees a great potential in their environment friendly products meeting these objectives.
Commenting on the event Mr. M V Ramana Rao, Chairman & Managing Director, MIC Electronics Ltd said, 'These products add to the portfolio of the few environment friendly products available in the market today. With the increasing awareness about preservation & consumption of nature & seeing immense future production in the field of LED products we are also planning to double the production capacity in the coming 12 months." |
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