Financial Daily from THE HINDU group of publications
Monday, Dec 05, 2005
Financial Daily from THE HINDU group of publications Monday, Dec 05, 2005 |
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Corporate
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Mergers & Acquisitions Dunlop Ambattur unit workers optimistic about restarting operations Our Bureau
RAY OF HOPE: Workers of the Dunlop Sahagunj greet the Ruia family. These workers have been jobless for nearly eight years and want the factory to be reopened. The Ruia group Chairman, Mr Pankaj Kumar Ruia, and his family visited the plant on Sunday. - A. Roy Chowdhury
Chennai , Dec. 4 THE Dunlop Factory Employees Union (DFEU) at Ambattur (in Chennai) has expressed optimism that the factory here could soon restart following the acquisition of Dunlop India Ltd by the Kolkata-based Ruia group. Mr D. Devanathan, General Secretary, DFEU, told Business Line that the acquisition has boosted the morale of the workers. While some issues on payments and arrears owed to them need to be resolved, they are willing to cooperate with the management on restarting operations. Employees at Ambattur have been amenable to a settlement, he said. Also, the factory at Ambattur is in a better state compared to Dunlop's other facility at Sahagunj. The maintenance and restarting of work could be completed in a few months, he said. Apart from the salaries to workers, the management owes the Dunlop Employees Cooperative Society over Rs 1.80 crore and another Rs 13 lakh under the employees retirement fund. A Voluntary Retirement Scheme also has to be implemented. But these are issues that can be settled after discussions, he said. The Dunlop factory here had suspended production in February 1998. It recommenced operations in 2000 but shut down again in 10 months. The factory has been closed since then. There are over 1,300 workers awaiting a resolution of the issue.
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