Markets across the globe are severely impacted from the coronavirus pandemic, resulting in shutdown of manufacturing facilities in various countries including China, which is the largest exporter of goods in the World. Many industry experts and historians say that the shutdown of heavy industry is unlike any seen since the 1940s. According to the Organisation for Economic Cooperation and Development(OECD), the world’s economy could grow at its slowest rate since 2009 this year due to the coronavirus outbreak.
Now the impact of coronavirus is visible in India as well. Many manufacturing facilities have begun to shut down its operations in the country in response to the lockdown orders issued by the Central and State governments, including the suspension of public transport services. Automakers, smartphone makers, consumer electronic firms, appliance majors and many others have ordered shutdowns till month-end.
Recently, manufacturers across different sectors have released statements regarding temporary shutdown of its units in various parts of the country. Here’s a list:
Subros Limited
As per the company’s statement: “In line with the Government directions and considering the health and safety of our employees and fellow citizens of the country, the manufacturing operations / offices in Uttar Pradesh, Haryana, Maharashtra with immediate effect till further notice. Further, the duration of such shutdown for the above and other manufacturing facilities will depend upon the respective States Government and shall be complied with accordingly.”
Subros Limited, founded in 1985 as a joint venture public limited company with 40% ownership by Suri family of India and 13% ownership by Denso Corporation & Suzuki Motor Corporation each. It is the leading manufacturer of thermal products for automotive applications in India, in technical collaboration with Denso.
Minda Industries Ltd
According to the Company’s statement: “In light of heightened concern on spread of COVID-19 in select districts in India, Government directives and certain OEMs announcing production closure, it has been decided to suspend the manufacturing operations in Northern India, Rajasthan and Maharashtra till further notice. The duration of this shutdown will depend on Government policy. At Global engineering and development centres’ in Europe, work from home has been implemented.”
Minda Industries Limited (MIL) is a flagship Company of UNO MINDA Group. UNO MINDA, a technology leader in Auto Components Industry is a leading supplier of proprietary automotive solutions to OEMs as Tier-1. It manufactures automobile components for Original Equipment Manufacturers (OEMs).
Bharat Forge Ltd
As per the Company’s statement: “We wish to intimate you that the Company has decided to suspend Operations at all their offices and manufacturing locations in India w. e. f. March 23, 2020 to March 31, 2020, to ensure employee safety and contain the spread of the Coronavirus (Covid19). This action is also in line with the directions issued by the Government of Maharashtra on March 22, 2020.”
Bharat Forge Limited (BFL), the Pune based Indian multinational is a technology driven global leader in metal forming having transcontinental presence across eight manufacturing locations, serving several sectors including automotive, power, oil and gas, construction & mining, locomotive, marine and aerospace.
Asian Paints
As per the Company’s statement: “In view of the lockdown in many of the States across the country, the operations in most of our locations are disrupted. The operations in all the manufacturing and most of the sales locations, including Home Improvement and Industrial business, will be shut down in the next twenty-four (24) hours. All the employees in our offices have been instructed to work from home. The duration of this shutdown will depend upon directives to be further issued by the respective Government authorities in this regard. The Company will continue to closely monitor the situation and take appropriate action as per regulatory guidance.”
Asian Paints is India’s largest paint company for almost 50 years and is a part of the top 10 decorative paint companies worldwide. It has operations in 19 countries, and manufacturing facilities in 26 global locations. Having subsidiaries in India and abroad, Asian Paints encompasses the best of Indian and global traits, homegrown and international qualities. Its subsidiaries are Berger International, Scib, Taubman, Apco, Ess Ess.
DCM Shriram Industries Ltd
According to the Company’s statement: “This is to inform that considering the gravity of the threat posed by COVID 19 and in compliance with the directives issued by the Central and State Governments, all the Delhi based offices and the factories and offices of DCM SHRIRAM INDUSTRIES at different locations would remain closed from 23.03.2020, till further instructions.”
DCM SHRIRAM INDUSTRIES LTD is based in Northern India with a
portfolio of products comprising of sugar, alcohol, fine chemicals and rayon
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