Bimetal Bearings declares temporary dislocation of production due to slow down in auto industry

23 Aug 2019

Bimetal Bearings has declared temporary dislocation of production activities ranging from 15 to 20 days on different days in various plants during the Calendar Quarter ending September 30, 2019, due to the severe down-ward situation prevailing in the Auto Ancillary Industry.

The company is aware that the present situation is aggravated due to stress in liquidity, financing of commercial vehicles, high GST rates, reduction in engine overhaul cycle apart from high interest costs which the industry is undergoing / facing in a never seen before crisis situation.

Bimetal Bearings offers metallurgy and friction material, aluminium tin and non-plated copper lead bearings, Bushings and Thrust Washer, Sintered and Bonded Strips, Copper Lead Sintered Strips and sintered strips under the brand name Bimite.

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Bimetal Bearings Share Price

324.45 6.15 (1.93%) Feb 24, 18:55
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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323