Mahindra Forgings subsidiary closes down its Walsali manufacturing unit

27 Jul 2010 Evaluate

The company would now concentrate more on the forging and machining operations at the other two sites in Dudley and Brierley Hill.

The closure, due to the collapse in European car sales which negatively impacted the operations of the company, is to be completed by end of April 2009 and is deemed to affect 137 jobs.

The customers and products currently supported from Walsall will be now be supplied from the other two manufacturing facilities. The transfer requires 52 additional jobs at Dudley / Brierley Hill and all the Walsall employees will be given the opportunity to apply for these vacancies, the company announced.

Stokes Group suppllies forged and machined components, mainly to the automotive industry, from 3 sites in the Midlands of the United Kingdom.

The Company has been operating in a challenging environment for some considerable time and the recent collapse in European car sales has negatively impacted the current prospects and without restructuring, could have affect the future viability of the business.

So towards protecting the future, the company has decided that the business must now be restructured in line with current and future demand to ensure an ongoing viable operation

Also the restructuring program is a strong commitment of the Mahindra Group towards its Automotive and Components Businesses across the World.

CIE Automotive India Share Price

475.60 0.90 (0.19%)
28-Sep-2023 10:11 View Price Chart
Company Name CMP
Bharat Forge 1090.60
CIE Automotive India 475.60
Ramkrishna Forgings 650.55
MM Forgings 879.00
Kalyani Forge 523.40
View more..