Financial Daily from THE HINDU group of publications
Monday, Mar 13, 2006
Financial Daily from THE HINDU group of publications Monday, Mar 13, 2006 |
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Corporate
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Announcements Industry & Economy - Tyres Dunlop's Chennai unit to reopen in Apr R. Balaji
Chennai , March 12 The Dunlop factory in Ambattur, the industrial suburb to the west of Chennai, is expected to reopen in April and commence production three months later, according to sources in the know. Mr A. Krishnaswamy, President, Dunlop Factory Employees Union (DFEU) said that the discussions with the management were coming to an end and an agreement would be signed between the management and DFEU on Thursday or Friday next week. The three-year agreement envisages that the maintenance work would start in April and the first tyre would roll out in August-September. The workforce would be brought down by about 300 and a wage reduction of 20 per cent on an earlier agreement finalised in September 2002. However, an annual increment has been provided for the three-year period to partially offset this loss in wage, he said. It may be recalled that the Kolkata-based Ruia group acquired Dunlop in December 2005 from the M.R.Chhabria group. The DFEU and the new management then initiated discussions on reopening Dunlop's facilities in Ambattur and in Sahagunj, Kolkata. But the discussions have stalled at Sahagunj and there had been optimism on reopening the facility in Ambattur. Management representatives expressed optimism on reaching an agreement with the union fast. The agreement was being finalised with the DFEU. A detailed work plan is also in the pipeline.
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