COIMBATORE: The city-based Lakshmi Machine Works-Textile Machinery Division (LMW TMD) was named as the "Most Innovative company of the year 2020", by CII.
The Confederation of Indian Industry announced its Industrial Innovation Award recently through an online ceremony recently and named LMW as the most innovative company for 2020, a company release said.
Lakshmi Machine Works Limited Textile Machinery Division was chosen for the award for its innovative products namely, FixFil, lap former LH20S and speed frame LF 4280 SX.
The award serves as an important recognition for LMWs consistent innovative efforts aimed at bringing the latest in textile spinning technology to its customers, the release said.
CII Industrial Innovation Awards were instituted in 2014 to identify and celebrate innovative Indian enterprises across industry segments and sectors and the awards serve as a platform to showcase to the world Indian companies known for their innovative products and services, the release added.
CII has formulated an Enterprise Innovation Maturity Framework which forms the basis for assessment of firms applying for CII Industrial Innovation Awards.