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| Exchange Disseminated Time | Century Enka Ltd has informed BSE about the following:
"We understand from tyre Companies that there is slowdown in Automobile Industry. This is also evident from the reports appearing in various newspapers. Consequently, tyre Companies have substantially reduced their off—take of Nylon Tyre Cord Fabrics (NTCF) from us.
In view of above situation, we have accumulated substantial inventory of NTCE and do not see early revival in demand. As such, we have partially suspended our NTCF operation and intend to cater market requirements from accumulated inventory. It will also help the Company to manage its working capital more efficiently and save the Interest cost.
The Management will closely monitor the situation and restore production at appropriate time. In the meantime, the Company will undertake preventive maintenance of the plant and equipment." |
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