Auto-component manufacturer Bosch Ltd said in order to avoid unnecessary build up of inventory it would suspend operations of its manufacturing plants in Bangalore and Nasik.
“With a view to adjust production to meet the demand for products and to avoid unnecessary build up of inventory, it is proposed to suspend the manufacturing operations of the Bangalore and Nasik plants, the Bangalore headquartered company said in a filing to the BSE.
Reuters
While the Bangalore plant will be closed for operations during the next three days—27 July, 28 July and 30 July, Nasik plant would be closed on 30 July and 31 July. Besides these two plants, Bosch has manufacturing facilities in Naganathapura near Bangalore and Jaipur.
According to a company website, Bosch Group in India employs over 25,000 associates. In India, it generated consolidated revenue of over Rs 11,300 crore in 2011. Bosch is the flagship company of the Bosch Group. It earned revenue of over Rs 8,000 crore in 2011, the company said.
Despite repeated attempts, company spokesperson were not available for a comment. Shares of the company closed at Rs 8,660.05 apiece on the BSE, down 0.50 percent over the previous close.
PTI
