Schneider Electric Infrastructure has received an approval for closure of its Unit at Naini and to sell/dispose off or to shift to another manufacturing locations of the company, the assets belonging to Naini Unit. The board of directors at its meeting has approved the same through a circular resolution.
The company had earlier received an approval for the voluntary retirement scheme (VRS) for the employees of Naini unit as a part of consolidation of company’s transformer business. The board of directors at its meeting held on February 11, 2014 had approved for the same.
Schneider Electric Infrastructure is engaged in the business of manufacturing, designing, building and servicing technologically advanced products and systems for electricity network, including products such as transformers, medium voltage switchgears, protection relays and electricity distribution management systems and software.