Hyderabad-based MIC Electronics has entered into Memorandum of Understanding (MoU) with Italian-based Ceracchi Illuminazione, to get access to European markets and others like Russia, Morroco and Eastern European countries.

Ceracchi Illuminazione is a renowned lightening company in Italy for design, development and marketing of light-emitting-diode (LED) lightening solutions.

Other than this, the company also announced the commissioning of their 100% export oriented unit (EOU) facility at Cherapally in Hyderabad on Oct. 29, 2008. The company stated that with the new facility, the production capacity of LED display modules had doubled.

MIC Electronics is a global leader in the design, development and manufacture of LED video displays, high-end electronic and telecommunication equipment, and development of telecom software since 1988.

Shares of the company gained Rs 3.10, or 8%, to end at Rs 38.60. The total volume of shares traded was 115,597 at the BSE. (Friday)