“The Manesar plant remains captive in the hands of workers. There is no production possible there. Due to the impact of components from SPIL, production at Gurgaon will be even lower compared to yesterday,” a Maruti Suzuki India spokesperson said
New Delhi: The strike by workers at the Manesar plant of Maruti Suzuki India (MSI) entered its fifth day today and with no signs of an end to the stalemate, the management said its overall production will be lower than yesterday, reports PTI.
The strike by workers at Suzuki Powertrain India (SPIL) and Suzuki Motorcycle India Pvt Ltd in support of their colleagues at Maruti’s Manesar plant also continued.
“The Manesar plant remains captive in the hands of workers. There is no production possible there. Due to the impact of components from SPIL, production at Gurgaon will be even lower compared to yesterday,” a Maruti Suzuki India spokesperson said.
Yesterday, the company said the Gurgaon plant produced around 1,800 vehicles, as against the normal 2,800 units a day.
SPIL supplies engines and transmissions to MSI’s Manesar and Gurgaon plants for different car models.
The MSI management claims workers have indulged in random acts of violence like beating up company managers, supervisors and those co-workers that are not supporting the strike, the statement alleged.
“They have also damaged equipment and property. In the situation, production remains at a standstill at the plant,” it added.
Workers at MSI’s Manesar plant went on a stay-in strike in the afternoon on Friday (7th October), affecting production.
The total number of workers who went on a stay-in strike inside the Manesar plant was around 2,000. This included all categories of workers, like regular and contractual employees, apprentices and trainees.
On Sunday, MSI dismissed 10 workers, terminated five trainees and suspended 10 employees in connection “with the strike and violence at the Manesar factory premises”.
Shares of MSI were being quoted at Rs1,077.55 per share on the Bombay Stock Exchange in noon trade today, up 0.54% from their previous close.
MRF plans to acquire plantations or companies abroad to neutralise the impact of high import duty on rubber
"MRF is the first Indian tyre company to have crossed the turnover of Rs10,000 crore in one year. It registered growth in excess of 30% over the previous year," MRF chairman KM Mammen said. "In 2007, we reported Rs5,000 crore. Rs10,000 crore is something we are proud of, because we are the first Indian (tyre) company to achieve this." About future plans, he said MRF was seriously thinking of buying companies or plantations to offset the high import cost. "We are reviewing a lot of these wonderful ideas," he said.
Stating that the high import duty was having an impact on its bottom line, he said they were looking to acquire plantations in any region or acquire companies. MRF exports tyres to 65 nations. It has seven facilities in the country. However, Mammen said it was "not a right option" to set up factory outside India. "But taking over (of overseas companies) is fine. We are looking at all over the world. I would say, there are a lot of opportunities in Europe, South East Asia, China," he said. On high import duty, Mammen said, "This is ridiculous .... Raw material cost is more in India than the import of tyres. This is going on for the past 15 years and the government has not been able to take a decision. It will definitely have a big impact on the tyre companies in India," he said.
In the early afternoon, MRF was trading at around Rs6,660 per share on the Bombay Stock Exchange 0.92% up from the previous close.
Honda Siel’s primary focus will be the domestic market, but it does plan to export cars to Nepal, Bangladesh, Bhutan and Sri Lanka
Honda Siel Cars India said its primary focus will be the domestic market, but it does plan to export cars to Nepal, Bangladesh, Bhutan and Sri Lanka, a top official said. The company presently exports component and engine parts from its factory in Rajasthan and expects to witness a turnover of Rs112 crore this fiscal, Honda senior vice-president (marketing and sales) Jananeswar Sen said. Presently, the company has 135 dealers in 83 cities and over 60% are located in small cities. By this fiscal-end, the company plans to have 143 dealers in 91 cities.
Honda has launched its new car, Brio, in the Kerala market. There was a very good response to the new car in the cities where it has been launched and in the first 10 days, at least 2,000 enquiries were received, Sen said.
On the sales target, he said, "Our initial start will be slow. Due to the earthquake and tsunami in Japan, things are yet to be normalised in Japan, so we are yet to receive normal delivery of critical parts."
Honda Brio is manufactured at HSCI's facility at Greater Noida, with a localisation level of over 80%, Honda Zonal Head for Sales (South) Thushar Walkankar said. The new car is available in four variants and the ex-showroom prices are: EMT (Rs3.99 lakh), SMT (Rs4.40 lakh), S(O)MT (Rs4.98 lakh) and VMT (Rs5.21 lakh). The car comes in six colours. The company's product range in the country includes the Honda Jazz, Honda City, Honda Civic and Honda Accord.
In the early afternoon, Honda SIEL was trading at around Rs340 per share on the Bombay Stock Exchange 0.01% up from the previous close.