Clutch Auto has stopped production at Faridabad and the company is shifting entire operations to Bhiwadi in state of Rajasthan. The company has taken this step as Delhi Metro is commissioning Sarai Railway Station and an elevated corridor on company’s Faridabad plot, situated on Delhi Agra National Highway, opposite to the New Toll Gate and construction is going on for the last 3-4 months. The company hopes to pick up momentum at the new location, which has been under production for the last 4 months.
Besides, the full and final settlement has been reached with Labour Union on July 08, 2013 and the agreed amount is to be paid in a phased manner in six months. The movement of Machines, Dies & Tools, Raw Materials and semi finished goods to new site at Bhiwadi is going apace.
Further, the consortium bank members are favourably considering to release sanctioned funds to support production at Bhiwadi, documentation has already been completed.
| Company Name | CMP |
|---|---|
| SamvardhanaMotherson | 125.00 |
| Tube Investments | 2789.65 |
| Bosch | 37505.60 |
| UNO Minda | 1097.30 |
| CIE Automotive India | 490.15 |
| View more.. | |
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