Fiem Industries Limited Announces Update on Exit from JV Company: Aisan Fiem Automotives India Pvt. Ltd
June 11, 2022 at 09:00 am EDT
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Fiem Industries Limited (the Company) has decided to exit from Joint Venture Company (JV Company) - Aisan Fiem Automotives India Pvt. Ltd. Accordingly, in terms of Joint Venture Agreement (JV Agreement), the Company has exercised the put-option rights and offered the entire shares held by the Company in the JV Company to the other Joint Venture partner i.e. Aisan Industry Co. Ltd., Japan for purchase at face value or fair market value, whichever is higher.
Company had invested INR 26 Crore for acquiring 26% shareholding in the JV Company.
Fiem Industries Limited is an India-based company that is primarily engaged in the business of manufacturing and supply of auto components. The Company manufactures automotive lighting and signaling equipment, rear-view mirror, prismatic mirror, plastic molded parts, bank angle sensor, canister and sheet metal components for motorized vehicles, and light-emitting diode (LED) luminaires comprising of indoor and outdoor lighting, display panels and integrated passenger information system. Its products include headlamps, tail lamps, other lamps, pistons, rings, engine valves, fuel pumps, carburetor, starter motor, generators, ignition system, spark plug, steering gears and systems, clutch plates, discs, axle assembly and wheels, leaf springs, shock, absorbers, brake assembly and facing, wiping systems, electric horns, dashboard instruments, sheet metal parts, pressure discs, castings and glass rubber. The Company operates approximately nine manufacturing facilities.
FIEM INDUSTRIES LIMITED 
