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| Company |
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Lumen Cables Ltd. |
| Location |
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Gandhinagar |
| Promoters |
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Mr. K. Jose Thomas |
| Business |
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Manufacturer of Ultrafine magnet wires (UMFWs). It is
a fine copper wire having multiple insulating coats of
polyurethane. This is a requirement in the coils of watches,
radios, measuring instruments, which are not supported
by a solid core. The company manufactured wires having
two grades of UMFW, i.e. one having stability upto temperature
of 1300 Celsius and another having stability upto temperature
of 1550Celsius. The product being extremely technology
intensive in nature, necessitates skilled labour, capable
of producing a product adhering to international standard. |
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Value-addition by GVFL |
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GVFL invested in the company in the early
stage and played a major role in establishment of systems
and policies. |
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GVFL helped in the clearance of Statutory & legal
Compliance. |
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GVFL also assisted the company in raising fund by obtaining
the electronic subsidy from the government. |
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GVFL helped in marketing tie-ups. |
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GVFL helped in receiving an order from Hong Long based
quartz watch firm called Prestige Watches in the year
1996-97, due to which the company achieved profits of
Rs. 87 lacs. |
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GVFL pursued the collaborator, Polydraht to invest
in to Equity. |
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Encouraged Corporate Governance practices and streamlining
of systems and processes. |
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Achievements of the company |
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The company’s product has been accepted
as international quality product. The wire has conformed
with the ISO / IEC (International Electronics Council)
specifications for magnet wires. |
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The company has manufactured Superfine wires for the
first time in the country, with an imported plant &
machinery from Japan. |
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| Status |
| The company has collaborated with M/s.
Polydraht SA, a swiss firm that is a pioneer in the field
of UFMW. Polydraht has participated in equity of the project
and has given product buyback undertaking.GVFL divested
from the company in the year 1997-98 to a strategic investor. |
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