Lumax DK Auto, manufacturer of lighting module and integrated plastic molds, has announced its merger with its parent company, Lumax Auto Technologies.
According to Lumax Auto, the merger was undertaken to achieve business and administrative synergies. Through this merger, they aim to consolidate and simplify the Group structure, improve cost savings through rationalization, standardisation and simplification of business processes. The company claims that the pooling of financial resources would lead to improved organizational capability. Hence, this would avoid unnecessary duplication of costs of administration, distribution, selling and marketing and reduction in legal and regulatory compliance.
Lumax Auto technologies, a Pune-based company that manufactures lighting modulo, frame chassis, swing arms, integrated plastic moulds, seat frames and more. The company also caters to the aftermarket lighting system. Its net worth as on March 31, 2018 was Rs 258.40 crore.