GTN Industries declares lock out at Doubling Unit in Andhra Pradesh

GTN Industries Ltd has announced that the Management has declared Lock Out effective July 06, 2006 (from 2nd Shift) at the Company´s Doubling Unit at Chitkul Village, Medak District, Andhra Pradesh.

The Lock Out was declared consequent to non-cooperation and refusal by the workmen to carry out certain jobs making it difficult to continue with the production at the Unit. The matter is under conciliation with the Assistant Commissioner of Labour and the Company expect that this matter will be settled shortly.

Further the Company has informed that, the strike will not affect materially the performance and profitability of the Company, if the normalcy is restored in short time.

Source : Equity Bulls

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