GTN Industries Medak plant operations suspended

With reference to the earlier announcement regarding stoppage of operations at Medak Spinning Unit, GTN Industries Ltd has announced in this regard that the operations at the Spinning Unit located at Medak is totally at stand still due to the stoppage of casual workmen by the union pressurizing the management to settle the wage negotiations at their terms. Since the casual workers are supporting the activities of permanent people in their operations, as such it is not possible to continue the manufacturing operations. Accordingly the total operations is forced to be suspended / closed by the third shift of August 12, 2006 onwards.

Source : Equity Bulls

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