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Mumbai, Jan. 1 Automobile Corporation of Goa Ltd (ACGL), an associate company of Tata Motors, which manufactures sheet metal components and bus coaches, has decided to partially close one of its plants from January 5. Tata Motors holds 42.38 per cent stake in the company.

“Some production lines will be shut due to the slump in demand and it will continue till the demand increases,” said Mr N.R. Menon, Managing Director, ACGL.

The company informed the BSE on Thursday that it would meet the demand for both sheet metal pressings and bus bodies from its plant located at Honda Sattari, in Goa, as the plant in Bhuimpal will be partially shut. ACGL builds bus bodies primarily for Tata Motors.

Bus sales of Tata Motors fell from 2,934 units in November 2007 to 1,608 units in November 2008, while the entire bus market fell from 6,166 units to 3,254 units. December sales figures are not released.

“The bus market has been facing slowdown and it has impacted us also,” said Mr Menon. Share price of ACGL closed 2.65 per cent down at Rs 143.10 on the BSE on Thursday.

More Stories on : Announcements | Automobile Components | Tata Motors Ltd

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