Sundaram-Clayton Declares ‘Non-Working’ Days At Tamil Nadu Plants
Sundaram-Clayton Ltd., a leading supplier of aluminium die-cast products on Friday said the company has declared five 'non-working' days a week in its plants across the state, following the slowdown in automobile sector.
Sundaram-Clayton Ltd. has announced Oct. 29 to Nov. 2 at its major plants while at the plant in Hosur it will be from Oct. 29 to Oct. 31 due to business slowdown across sectors, Chennai-based TVS Group company said in a regulatory filing on Friday.
The company had earlier declared non-working days to some of the factories in August. Sundaram-Clayton has four plants in and around Chennai and another facility in the United States. According to data from the Society of Indian Automobile Manufacturers, passenger vehicle sales dropped by 23.69 percent in September making it the 11th consecutive month of decline in vehicle off-take.
In the April-September period this fiscal, total domestic commercial vehicle sales slumped by 22.95 percent to 3,75,480 units as against 4,87,319 units in the year-ago period. Hinduja Group heavy commercial vehicle maker Ashok Leyland had announced non-working days at its various manufacturing facilities following weak demand in August. Automaker Maruti Suzuki Ltd, Hero MotoCorp Ltd. also had announced the suspension of production at their facilities in line with market demand.