Fiem Industries working towards avoiding supply disruptions due to fire mishap at Haryana unit

In an exchange notification (13 June 2023), FIEM Industries, a manufacturer of automotive parts and systems, said that a fire had taken place at noon that day in one of their company units in Haryana.

It further stated that there was, fortunately, no loss or injury to human life, and the fire was got under control in a few hours. There was damage to the building, plant and machinery, stocks and furniture.

The company is in the process of ascertaining the loss caused by the fire and has initiated the necessary procedure for an insurance claim as its assets are adequately covered by the insurance, it said in the exchange notification.

It is in the process of arranging supply to its OEM customers from other units, to avoid any disruptions in supply. The shares had fallen by over 3% on 14 June, reacting to the fire mishap.

Fiem Industries manufactures automotive systems and parts i.e. automotive lighting systems and signalling equipments, automotive LED lighting systems, rearview mirrors, sheet metal parts, and plastic parts for two, three, and four-wheelers, as per its website.