GE Power India will cease operations at the Maneja plant with effect from August 27, 2018. The decision was taken considering the current market situation, wherein the company is experiencing more capacity than market volumes and that majority of workers have accepted the Voluntary Retirement Scheme (VRS), it is not viable for the management to operate the factory.
The company had opened a VRS for its workmen at Maneja (Vadodara) factory on August 21, 2018, which was closed on August 25, 2018. Around 95% of workmen at the above factory have opted for the aforesaid scheme.
The company shall continue as a key contributor to the domestic hydro market and reaffirms its commitment to the customers in the Hydropower industry. The company will leverage its robust supply chain capabilities from within GE Group and in collaboration with suppliers to serve its customers.
GE Power India is engaged in the engineering, procurement, manufacturing, construction and servicing of power plants and power equipment.
