Lumax Auto Technologies has received approval for discontinuation of the PCB manufacturing with effect from April 01, 2019. The Board of Directors of the Company at its meeting held on March 16, 2019 has approved the same.
In addition, the board has also approved the disposal of Plant & Machinery to Lumax Industries relating to PCB Business on arm’s length basis and not below its book value.
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.