Chennai

Slowdown fallout: another firm to shut for 2 days

Sundaram Clayton Limited (SCL), a TVS Group company, said its Padi factory has been closed for two days due to business slowdown.

In a filing with the Bombay Stock Exchange (BSE), SCL said, “The Company’s plant situated at Padi, Chennai, has declared August 16 and 17, 2019 as non-working days due to business slowdown across sectors.”

Query unanswered

To a query on how many employees were working at this plant, the firm refused to give out the numbers.

SCL manufactures aluminium pressure die casting for heavy commercial vehicles, passenger cars and two-wheelers. The firm also manufactures cylinder heads, transaxles, oil pans, chain cases, cylinder headcovers, adaptor oil filters, gear shift forks and fuel pump, starter and A/C compressor housing for passenger cars.

On Thursday, another TVS Group company, Lucas TVS announced that it had declared two days as non-working days.

Article source: https://www.thehindu.com/news/cities/chennai/slowdown-fallout-another-firm-to-shut-for-2-days/article29114399.ece

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