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| Exchange Disseminated Time | MIC Electronics Ltd has informed BSE regarding a Press Release dated July 17, 2010 titled "MIC Electronics Limited tie up with Home Resources Ind. Co. Limited"
Press Release:
"MIC which has been doing pioneering work in the field of True Colour LED Displays and LED Lighting in India has entered into a collaborative agreement with Home Resources Ind. Co. Ltd (HR), a leading company of Taiwan engaged in the development and manufacture of home lighting appliances in Taiwan. 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.
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 manufacturing assistance to MIC to cope with the volume demands. 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 be exclusive to each other for operations in India.
The agreement fenvisages manufacture of around 100,000 lights in the next 6 months and around a million in the next 18 months." |
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