Indian Card Clothing Company has entered into a Memorandum of Understanding (MoU) on April 18, 2018, with its Labour Union for permanent discontinuation of the operations at its factory situated at Pimpri, Pune. This mutual decision has been necessitated due to the continuous operational losses at the Pimpri factory for a period of last 4 to 5 years.
The company shall, in accordance with the terms of the MoU, undertake to pay the dues to the unionised employees in full and final settlement.
Indian Card Clothing Company is engaged in manufacture of card clothing and realty. The company’s segments include Card Clothing and Realty.
