Damage from texturing unit fire being assessed - Alok Ind
21 Aug '07
1 min read
With reference to the earlier announcement dated August 17, 2007 regarding the Fire at the Company's Texturizing plant at Silvassa, Alok Industries Ltd has informed about the following necessary details: The fire broke out at the Company's Texturizing plant with 70 machines located at Rakholi / Saily, Silvassa.
The survey of the said plant is being carried by the Insurance authorities in order to assess the exact extent of damage.
The Company do not expect a major impact on the overall operations of the Company due to the following reasons: 1. The Company has adequate Insurance Cover for Building, Plant and Machinery and Stock.
2. The Company has a Loss of Profits Policy which would compensate for the loss of profits in the period when the plant would be rebuilt.
3. The Texturizing plant was a stand alone unit. Hence the operations of other units, namely, Spinning, Weaving, Knitting, Processing, Garmenting, Made ups and Partially Oriented Yarn would continue as before.
The expect to commence operations from the rebuilt plant (process of rebuilding the plant has started) in the next 3-4 months.
marketing@alchempro.com
