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Suspension of Operations at the Weaving Machinery Division at Hosur

| Updated on October 09, 2014 Published on October 09, 2014

Lakshmi Automatic Loom Works Ltd has informed BSE that due to the continuous import of both used and new shuttleless weaving machines, the market for the Company’s C type shuttle weaving machines has been affected except sporadic enquires for weaving specialized fabrics.

In view of lack of orders for high speed C type automatic shuttle weaving machines, the operations at the Weaving Machinery Division at Hosur has been suspended with immediate effect, pending finalization of discussions with prospective foreign collaborators for manufacture of shuttleless weaving machines.

The operations at Unit 2 of the Company at Kinathukadavu near Pollachi Taluk in Coimbatore District are continued for manufacture of parts for shuttle weaving machines and circular knitting machines and parts for machine tools including tool holders.

Source : BSE - www.bseindia.com

Published on October 09, 2014
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