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| Exchange Disseminated Time | Fiem Industries Ltd has informed BSE that the Company have signed a ‘MoU’ with two Japanese companies namely, Honda Lock Mfg. Co., Ltd., Japan and Toyota Tsusho Corporation, Japan for a joint venture proposal in India for manufacturing of Key Sets, Door Mirrors and Outside Handles. The Japanese Companies are group companies of Japanese conglomerates Honda and Toyota, respectively.
Management consider it a major breakthrough in diversification of the product line as well as enhancing the presence of the Company in four-wheel segment and being a new product line for the Company, will add new dimensions to the growth of the Company. The Key Sets will be for four-wheel as well as for two-wheel vehicles also. |
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