02 December 2008 16:11 [Source: ICIS news]
NEW DELHI (ICIS news)--India’s inorganic chemicals and synthetic yarns producer NRC Limited has suspended the operations of all plants at its production complex in Mohone, in the Thane district of Maharashtra state, due to “labour unrest”, the company said on Tuesday.
The company has resorted to periodic production cutbacks or shutdowns at the complex due to technical problems, competition from imports and acute shortages of working capital over the last year.
It also produces hydrogen, carbon di-sulphide, sodium sulphite and sodium sulphate.
The company also has plants at the site that produce 16,000 tonnes/year of viscose filament yarn and 12,000 tonnes/year of nylon tyre chord.
NRC incurred a net loss of rupees (Rs) 1.82bn ($36.14m) on net sales of Rs3.2bn in the 15-month accounting year that ended 30 June 2008.
($1 = Rs50.35)
To discuss issues facing the chemical industry go to ICIS connect
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|
Asian Chemical Connections