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

It is in the process of arranging supply to its OEM customers from other units, to avoid any disruptions in supply. 

Autocar Pro News Desk By Autocar Pro News Desk calendar 15 Jun 2023 Views icon3203 Views Share - Share to Facebook Share to Twitter Share to LinkedIn Share to Whatsapp
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.

RELATED ARTICLES
Audi to expand hybrid line-up globally

auther Autocar Pro News Desk calendar23 Jul 2024

Audi developing new PHEV powertrains, but will stick to its EV plans, too.

Nissan Ariya EV India bound

auther Autocar Pro News Desk calendar23 Jul 2024

Nissan Ariya SUV will be sold as a full import.

Schaeffler India Q2 revenues grow 13.3% to Rs 2,072 crore

auther Autocar Pro News Desk calendar23 Jul 2024

The Pune-headquartered Indian arm of the German Tier-1 major attributes its strong growth to a focused approach to cost ...