Lumax Auto Technologies has received approval for acquisition of roto moulded plastic Auto Component Business of OK Play Group. OK Play Group comprises of OK Play India and its wholly owned subsidiary viz. OK Play Auto. The Board of Directors of the Company at their meeting held on February 24, 2020 has approved the same.
The acquisition will provide Lumax Auto Technologies access to latest roto molding technologies and will enable the company to exploit fast-emerging growth opportunities in the automotive roto moulded plastic fuel tanks market for commercial vehicles, tractors and off-road vehicles in view of changing regulatory environment.
Lumax Auto Technologies has carved its strong position in automotive parts like sheet metal parts, fabricated assemblies, tubular parts, for two wheeler and three wheeler industry. They operate in two segments, namely Automotive Parts and Trading of Motor Adjusters.
