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Regency Ceramics, which witnessed violent incidents at its Yanam unit last week, resulting in the deaths of a union leader and its President, declared lockout on Wednesday, stating that in the present circumstances it would not be possible to run the unit, as the company had suffered crippling losses amounting to Rs 600-700 crore.
In a statement pasted to the main gate, the management narrated the genesis of the labour unrest and blamed the impasse and the subsequent incidents on the “adamant attitude of the union.”
Mr M. Krishna Rao, the MLA of Yanam, said he would take up the issue with the Labour Commissioner, the management of Regency and the Puducherry Government and try to find out a mutually acceptable solution. He said many families would be deprived of livelihood, if the factory went out of production permanently.
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