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| Exchange Disseminated Time | With the reference to the earlier announcement dated January 06, 2009 regarding the operations of plants of the Company at Kolhapur have been reduced from 6 days a week to 5 days due to sluggish market conditions, Manugraph India Ltd has now informed BSE that the Company does not foresee any improvement in business conditions. Also exports have slowed down significantly. Considering this local and global scenario, the Company has been constrained to suspend the production at Unit No.II at Kolhapur and also has reduced its operations at Unit No.1 substantially in consonance with the orders in hand and to reduce the piling of inventory.
Until such time the situation does not improve, the Company will take cost cutting measures which are necessary to improve its working and reduce the financial burden. |
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