Pharmasia to close Jeedimetla plant

Pharmasia Ltd has announced that Manufacturing Unit - I situated at Jeedimetla Hyderabad, will be closed permanently with effect from October 01, 2006, since most of the Company´s Customers have shifted to other Manufacturing Units located at Excise Free Zones where by there are no orders to undertake job works for "Formulation Products". However the Company is engaged in Manufacturing Products under loan licence.

The workers are being terminated by paying due compensation as per labour laws.

Source : Equity Bulls

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