Luman Automotive Systems, manufacturers of automotive lighting
and electrical components as well as engine induction air filtration systems,
has entered into a joint venture agreement with Hengst SE & Co.KG, a
leading manufacturer of automotive filters in Germany. The joint venture
company will be known as Hengst Luman India Pvt Ltd. The agreement was signed
in New Delhi between A. S. Sethi, Managing Director of Luman and Dr. Robert
Stoesser, Chief Executive Officer of Hengst SE & Co.KG.
The two companies will be investing around Rs 300 crore in
the next five years in this joint venture company. It would include setting up
two to three production facilities for this venture.
Luman Automotive Systems Pvt Ltd (formerly Luman Auto Light
P.Ltd) was founded in 1978 by Avtar Singh Sethi, the firm's principal investor.
Under his leadership by 1990, Luman Auto had become the largest exporter of
automotive headlamps and subsequently diversified into the Indian domestic
Luman Auto Light, manufacturer of Luman brand filters,
currently has four manufacturing locations including one in tax-free zone of
Uttaranchal. All the manufacturing locations will support the needs of OEMs as
well as Luman's aftermarket customers.
Luman Automotive Systems P Ltd is an approved supplier to
Ashok Leyland Ltd., Tata Motors Ltd., International Tractors Ltd., JCB Ltd.,
Vehicle Factory Jabalpur, TAFE Ltd., Bharat Earth Movers Ltd., Greaves Ltd,
Brakes India, SML-Isuzu and Standard Tractors. In addition, Luman Automotive
Systems Pvt Ltd produces components for Defence vehicles used by India and
other military forces around the world.
J. S. Sethi, Director, Luman Automotive said, “To
support the 'Make In India' campaign of
the Government of India we are going to cater to the Indian passenger cars and
commercial vehicles market with world
class environment friendly filtration technology. Daimler India (Bharat Benz)
is going to be our first endorser in this regard. The expected investment in
this JV for the next five years would be around Rs 300 crores. Hensgt-Luman
will allocate 2 to 3 production facilities for this venture."
In addition, Dr. Robert Stoesser, Chief Executive Officer,
Hengst SE & Co.KG, Germany said, “We make environment friendly products and
are also leader in filtration modules solutions. We supply our products to
leading automotive customers around the globe.”
The Hengst Automotive Group, in the meantime saw its global turnover
for 2013 increase to EUR 393 million, representing an increase of three percent
over the 2012 figure. The fluid management and filtration specialist is
determined to grow further in 2014, seeking to increase turnover to EUR 400 million.
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