Bony Polymers and Luminator have signed a joint venture agreement for manufacturing destination sign boards for the Indian market. The 50:50 joint venture will make an initial investment of $3 million for setting up a manufacturing facility in India. The plan is to make this facility a hub for the Asian markets.
In just three months since inception, the JV has bagged orders for over 900 destination sign boards for buses, including that for 200 city buses for BEST of Mumbai to be supplied by JCBL. The company has already made installations in Kingfisher Airlines buses.
Started in 1981, Bony Polymers is India’s leading manufacturer of rubber components for automotive OEMs. The company is currently a major supplier to all domestic OEMs across all segments and also an exporter to global OEMs. Today, the company has four plants located in the National Capital Region equipped with state-of-art facilities.
Luminator is a global leader with over 70 per cent new bus market share in destination signs, and 65 per cent of the market for rail lighting in the US. Based in the US, the company, established in 1934, has been meeting the needs of the transit industry since then Luminator Technology Group manufacture and designs information display systems and lighting for the transit industry.
The Luminator Rail Group has been able to capture the market for major rail car builds in North America, including Toronto, PATH (New Jersey Port Authority), NYCT (New York City) and CTA (Chicago). A total of 55,000 of 70,000 buses in service have Mark IV Luminator signs.
The exponential growth in the Indian bus and rail market has attracted many global majors with their products and solutions. Bony has clearly identified an opportunity in the fast growing segment and has entered into this JV with Luminator.
JVs and collaborations are not new to the Bony Group. The company has two technical collaborations with Becorit of Germany for friction materials and Vulcanite of Australia for isolation polymers. Bony Polymers is currently a major supplier of friction materials to the Indian Railways.
The Bony Group boasts of integrated services, including design, development, tooling, moulding, extrusion and assembly across a wide range of polymer products. Currently the company has a turnover of Rs. 120 crores with an average growth rate of 20 to 25 per cent year-on-year.
The Group has signed another JV with FOCON, part of the Luminator Group, mainly for supplying destination sign boards and passenger information announcement systems for the railways. Another JV with ATRON of Germany is in the offing for providing fleet management solutions.
In just three months since inception, the JV has bagged orders for over 900 destination sign boards for buses, including that for 200 city buses for BEST of Mumbai to be supplied by JCBL. The company has already made installations in Kingfisher Airlines buses.
Started in 1981, Bony Polymers is India’s leading manufacturer of rubber components for automotive OEMs. The company is currently a major supplier to all domestic OEMs across all segments and also an exporter to global OEMs. Today, the company has four plants located in the National Capital Region equipped with state-of-art facilities.
Luminator is a global leader with over 70 per cent new bus market share in destination signs, and 65 per cent of the market for rail lighting in the US. Based in the US, the company, established in 1934, has been meeting the needs of the transit industry since then Luminator Technology Group manufacture and designs information display systems and lighting for the transit industry.
The Luminator Rail Group has been able to capture the market for major rail car builds in North America, including Toronto, PATH (New Jersey Port Authority), NYCT (New York City) and CTA (Chicago). A total of 55,000 of 70,000 buses in service have Mark IV Luminator signs.
The exponential growth in the Indian bus and rail market has attracted many global majors with their products and solutions. Bony has clearly identified an opportunity in the fast growing segment and has entered into this JV with Luminator.
JVs and collaborations are not new to the Bony Group. The company has two technical collaborations with Becorit of Germany for friction materials and Vulcanite of Australia for isolation polymers. Bony Polymers is currently a major supplier of friction materials to the Indian Railways.
The Bony Group boasts of integrated services, including design, development, tooling, moulding, extrusion and assembly across a wide range of polymer products. Currently the company has a turnover of Rs. 120 crores with an average growth rate of 20 to 25 per cent year-on-year.
The Group has signed another JV with FOCON, part of the Luminator Group, mainly for supplying destination sign boards and passenger information announcement systems for the railways. Another JV with ATRON of Germany is in the offing for providing fleet management solutions.
For manufacturing rubber components, Bony is looking at other emerging opportunities in the automotive and rail transportation segment. The company has joined hands with some of the best global names in respective segments. With all these JVs in place, the company has set a turnover target of Rs. 1,000 crores to be achieved by 2012.
