Arvind Ltd Updates On Strike At Naroda Road Plant

Arvind Ltd announced taht with reference to the earlier announcement dated June 05, 2012 regarding some workers at Naroda Plant went on strike from June 04, 2012, Arvind Ltd has now informed BSE that As a result, production at Naroda Plant has been affected. The Company has been able to partially resume production by fresh recruitments and appointment of contractors. The Company has intensified its efforts to recruit fresh workers and is hopeful that it will be able to increase production further within next week. Simultaneously, the Company has terminated the services of few workers as the positions have been filled up by fresh workers. The Company will continue to terminate the services of more workers as more fresh recruitments are made. Additionally, some of the machines are being relocated to another location from the affected location. In the meantime, about half of 1100 workers of Ankur Textiles (a division of Arvind Limited) which manufactures voiles fabrics have joined the illegal strike. Ankur Textile manufactures 36 Million meters of volies and other fabrics of which 90% of unprocessed fabrics are outsourced. The Company has already appointed contract workers and is hopeful of significantly increasing the output in finishing department during 8 to 10 days.