Schrader Duncan has informed that the Board of Directors of the Company at its meeting held on April 16, 2016 has approved closure of the Tube Valves Product line of the Company situated at F-33, Ranjangaon MIDC, Karegaon, Tal Shirur, Pune 412 209 as it is incurring cash losses and has ceased to be commercially viable. However, Tubeless Tyre Valves (TTV), Off The Road Tyre Products (OTR) and Fluid Power & Automation (FPA) business operations shall continue to work as normal.
The above information is a part of company’s filings submitted to BSE.
