SIX TVS Cos CONCLUDE LIBERAL WAGE ACCORD
Article Abstract:
Six companies of the TVS group have signed a four year wage pact for the employees at their plants at Padi complex in Chennai. Following the pact the six companies will be incurring an additional expenditure of Rs9 crore to Rs10 crore per annum on combined sales of over Rs1,500 crore. The six companies include Lucas-TVS, Sundram Fasteners Ltd, Sundaram Brakelinings Ltd, Sunadram Clayton Ltd, Wheels India Ltd and Brakes India Ltd. The companies have raised the pay of workers by Rs1,481 to Rs2,610 per month. The workers will also be getting an extra hike of Rs130 through new allowances. The companies will also be contributing Rs100 per month per employee towards a retirement benefit scheme. (ag)
Comment:
Signs four year wage pact for employees at plants at Padi complex in Chennai
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SBL TO FOCUS ON EXPORTS TO BEAT LOCAL DOWNTURN
Article Abstract:
The slowdown in the domestic auto market is expected to persist in 1998-99 also. The Rs59 crore TVS group company, Sundaram Brake Linings Ltd (SBL) has decided to focus on the export market to overcome the slump in the domestic market. The profit of the company has declined by nearly 35 percent in the first quarter of 1998-99 due to recession in the market. But exports have increased to Rs2 crore per month compared to Rs1.50 crore in 1996- 97. SBL has expanded its market penetration to 54 countries including South America, the West Indies and Sweden. Now, it plans to enter the Japanese market. Its product portfolio also is being expanded with 56 new products of which 25 will be added in 1998-99. (gsh)
Comment:
Decides to focus on export market to overcome slump in domestic market
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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LOW PRICES FORCE POLYMER PLAYERS TO LOOK AT EXPORTS
Article Abstract:
Leading producers of polymer products, like Reliance Industries Limited, have decided to focus on exports. The move follows fall in the domestic prices of polyvinyl chloride (PVC), polypropylene (PP) and HDPE. The prices of these polymers have come down due to high imports and poor demand growth. There is excess supply situation in domestic market. India is experiencing an excess supply of 150,000 tonnes of PVC. The PVC imports were around 50,000 tonnes during 1998-99. Cheap imports from the South- East Asian nations have affected the local PP producers. India has already imported 155,000 tonnes of PP against contracted 235,000 tonnes during 1998-99. HDPE is also witnessing an excess supply of 75,000 tonnes. (ag-psr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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