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| Exchange Disseminated Time | | With reference to the earlier announcement dated February 28, 2006, informing that the Company has effected a lock out of all the workmen except (watch and ward personnel, Occupational Health Centre personnel, boiler operators, canteen personnel and other essential services) of the Company's Chemical Factory at Ghansoli, Thane Belapur Road, w.e.f. February 25, 2006, Standard Industries Ltd has informed BSE that on October 18, 2006, the Company has entered into a Memorandum of Settlement with the workmen through the Standard Alkali Employees’ Union, Thane, whereby the Company has introduced Voluntary Retirement Scheme (VRS) for all workmen (including staff members and watch and ward personnel) as mentioned in the Memorandum of Settlement, who are on the Muster roll of the Factory as on the date of the Settlement. The said VRS will remain open for a period of 15 days with effect from October 18, 2006. |
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