ZF Steering has declared a block-closure of its plant at Vadu Budruk, Pune, from December 29 to January 1, 2020, (both days inclusive).
The decision is due to weak demand and to align production with the actual contracted demand for the company’s products, it said. The company’s newly set up manufacturing facility at Pithampur, Dhar, Madhya Pradesh, has started trial production. The company should shortly decide and declare the date of commencement of commercial production, considering the demand scenario and other factors. Meanwhile, demand for the company’s products is being met from its plant situated at Pune. The stock of ZF Steering slumped 3.22 per cent at ₹361.90 on the BSE.