INDAL SETS REVAMP TONE WITH VRS
Article Abstract:
Indian Aluminium Company Ltd (Indal) proposes to revamp its business activities, streamline production and cut workforce by introducing a voluntary retirement scheme (VRS). These steps will help retain its competitive edge. Indal plans to introduce the VRS at four of its units. It plans to close its Belgaum smelter due to the high power costs in Karnataka. This unit has 1,296 permanent employees and has been closed since 1996. Indal will also close its 25kA pot line at Alupuram and operate the other 50kA line at 13,000 tonnes per annum. These two units have around 995 employees. Indal will also restructure the Belur sheet mill and make huge investments on modernisation. This unit has 1,263 employees. The trade unions have opposed the proposed VRS and have sought redeployment of all the employees. (ag)(psr)
Comment:
Indian Aluminium Company Ltd (Indal) proposes to revamp its business activities, streamline production and cut workforce by introducing a voluntary retirement scheme (VRS).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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INDAL TIE-UPS IN TROUBLE
Article Abstract:
Indian Aluminium Company Ltd (Indal) has been cautioned by its associates that they may not be interested in continuing relations if Sterlite Industries manages to acquire control of the company. Hydro Extrusions of Switzerland, the Hydro Metals group of Norway, Courtalds of the UK and Tata Steel have all informed Indal that they may not be interested in existing or planned projects if Sterlite's bid succeeds. Indal's joint ventures are Indal Hydro Extrusions with the Swiss company, Orissa Extrusions Ltd with Ipicol and the Swiss firm, Utkal Alumina with Tata Steel, Alcan and Norsk Hydro and a lami-tubes venture with Courtalds. (khr)
Comment:
Is cautioned by assocs that they may not be interested in continuing relations if Sterlite Inds manages to acquire control of co
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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INDAL GETS A BREATHER
Article Abstract:
Indian Aluminium Company Ltd (Indal) had a reprieve when the attractive open offer of Sterlite Industries was turned down by the institutions in favour of Alcan of Canada, its original promoter. In 1997, it faced other problems like power cuts and labour unrest. In 1998, the company got another booster with the finance ministry rolling back the hike in duty on imported aluminium scrap from 25 percent to 10 percent. Indal imports scrap aluminium for its 25,000 tonnes per year scrap recycling plant at Taloja. This unit produced just 10,000 tonnes in 1997-98 as it was closed down for most part of the year due to the duty hike. (gsh)
Comment:
Is benefitted by cut in duty on imported aluminium scrap from 25% to 10%
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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