Company news: Lumax Cornaglia Auto Technologies Private Ltd

Lumax Cornaglia Auto Technologies Private Ltd , a 50:50 joint venture between Lumax Auto Technologies and Cornaglia Group of Turin, Italy, has inaugurated an R&D centre at a new location in Chakan, Pune. The R&D centre was inaugurated by Pier Mario Cornaglia, Chairman, Cornaglia - Italy, and Deepak Jain, Director, Lumax Auto Technologies. The targeted product line for the R&D centre is air intake systems, urea tanks, other automotive tanks, CAC ducts and other blow moulded parts. The newly set-up centre will enhance the local design, development and testing capabilities to provide localised solutions to OEMs. Shares of Lumax Auto fell 1.85 per cent at ₹203.35 on the NSE.