Business Daily from THE HINDU group of publications
Monday, Jul 06, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Monday, Jul 06, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Logistics
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Railways Braithwaite desires Burns’ status
Confusion persists over inclusion of Braithwaite in the Railway Minister’s rehabilitation package for revival of sick wagon manufacturing units. There has been a report that along with Burn Standards, Braithwaite too is being considered for the package but there is no confirmation of it. Even Braithwaite’s employees are in the dark and, therefore, sad. They are eager to see themselves as employees of the Indian Railways at the earliest. Braithwaite, a subsidiar y of Bharat Bhari Udyog Nigam Limited (BBUNL), also manufactures wagons for the Railways. But its condition is not as bad as Burn Standards, the other BBUNL subsidiary. Braithwaite – employing 460 people and spread over three works, namely Angus, Clive and Victoria – has been earning net profits since 2005-06 and the accumulated loss now is less than Rs 10 crore. The turnover in 2008-09 amounted to Rs 78 crore of which the share of the wagon business will be about Rs 57 crore. But more interesting will be to watch the future of BBUNL launched by the Union Government in 1986 as a holding company with 10 sick units as subsidiaries. OUR BUREAU More Stories on : Railways
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