Fiem Industries is reportedly planning to enter into two new joint ventures (JVs) for product diversification. The company is all set to ink JV with Honda Motor Co-owned firm Honda Locks soon. This will help it leverage the opportunity in sensor technology, automotive locks, etc. Moreover, the company is also in the final round of discussion with another Japanese component manufacturer Toyo Denso to sign a joint venture for manufacturing automotive switches, etc.
Also, the company is tapping newer opportunities to achieve four-fold growth in its revenue in the next four to five years.
Fiem Industries is one of the leading manufacturers of automotive lighting & signaling equipments and rear view mirrors. The company is supplying its products to almost all major OEMs in the domestic market as well as few global OEMs.
