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Coimbatore, Jan. 5

Precot Meridian Ltd has stopped production at its Meridian-Unit 3 near Pollachi in Coimbatore district with an installed capacity of 32,256 spindles, to take up structural repairs to the roof of the building. This has come about due to sagging in the roof trusses which led to a lowering of the false ceiling. With the long-term safety of the building in mind, it has been decided to dismantle the roof and strengthen the columns and trusses. This is being done now as the pres ent 50 per cent power cut and the prevailing market conditions mean that the opportunity cost on account of the stoppage is low. The company is also able to re-allocate the power to its other units in Tamil Nadu and operate them at over 90 per cent utilisation. By doing so it will also be able to partially make up the production losses and satisfy its market requirements. The company expects the duration of stoppage to be between four and five months.

– Our Bureau

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