![]() Financial Daily from THE HINDU group of publications Sunday, Dec 04, 2005 |
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Corporate
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Mergers & Acquisitions Dunlop workers at Chennai factory hopeful Our Bureau
Chennai , Dec. 3 WITH the Ruia Group announcing the acquisition of Dunlop India Ltd, workers at the Dunlop factory in Ambattur here hope that the move would mean recommencement of operations. Mr A. Krishnaswamy, President, Dunlop Factory Employees Union, told Business Line that the management representatives are to brief the workers next week, when some details of the new management's plans would be known. However, it has been indicated that operations at Ambattur are to recommence. The workers are optimistic on this score and that their dues would be settled, he said. Workers' representatives told Business Line that the managements are yet to make an official announcement. But word of Dunlop's acquisition by the Ruia Group had been received. It may be recalled that the Dunlop factory here suspended production in February 1998 and came under the purview of the BIFR in June 1998. It recommenced operations in 2000 but again shutdown in 10 months. The factory has been closed since then. There are over 1,300 workers awaiting a resolution of the issue against 2,084 in 1998 when the factory was shut.
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