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Update at 1645 hrs (IST)


Corporate
Kalamassery unit of Apollo Tyres commences operations

MUMBAI: Tyre manufacturer Apollo Tyres said on Monday it has commenced operations at its Kalamassery plant in Kerala from March 6 after a three-month lockout. The lock-out declared on December 6, 2008, at the manufacturing facility at Kalamassery near K ochi has since been lifted with effect from March 6, the company said in a filing to the Bombay Stock Exchange.

Apollo Tyres had declared a lockout after talks between the management and striking unions failed. The unit has 1,100 permanent employees and at least 300 contract workers. Shares of the company were trading at Rs 15.75, up 2.54 per cent on the BSE . - PTI

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