This will be the third block closure for the company within less than a month time as the company had observed three-day block closure from August 29-31 and then again two-day block closure last week. "Keeping in view the prevailing economic scenario, we have taken appropriate action from time to time to match production with demand," company sources said.

The closure will be observed from September 26 to October 1 (not counting September 29 which is a Sunday). Work will resume on October 3, after another holiday on October 2, sources said. The five-day block closure is aimed at preventing unnecessary build up of inventory in the company as well as at dealers end, sources said.

A circular in this regard was issued in the company on Monday, sources added. General Secretary of Telco Workers Union (TWU), Chandrabhan Singh said the economic slowdown and slump in demand of heavy commercial vehicle was the reason behind the company's decision. "We had produced around 3,200 units of heavy commercial vehicles till day this month," Singh said.

(Agencies)

Latest News  from Business News Desk