Auto-parts maker Pricol announces non-working days as industry slumps

Auto-components maker Pricol on Thursday announced non-working days in its facilities across the country, in October.

According to the company, the non-working days would be implemented at its Coimbatore plants 1, 3 and 4; at Units 2 and 9 in Gurugram, Unit 5 in Pune, Plant 10 in Sri City and unit 7 in Pantnagar.

The Tamil Nadu based company had announced non-working days for eight out of its 10 plants in the country last month.

In a regulatory filing on Thursday, Pricol said the move was part of efforts to align the production with sales requirements and market demand.

The slowdown in the automobile sector has forced many manufacturers and component suppliers to cut production and plan temporary plant closures.

Hinduja Group heavy commercial vehicle maker Ashok Leyland had announced non-working days at its various manufacturing facilities following weak demand.

TVS Group firm Sundaram-Clayton Ltd, automaker Maruti Suzuki Ltd, Hero MotoCorpo had announced suspension of production at their facilities in line with market demand.

Shares of Pricol Ltd were trading at Rs 31.25 apiece downby 4.87 per cent over previous close in BSE.