Prism Johnson announces the closure of wall manufacturing plant of its JV

Prism Johnson announced the Board of Spectrum Johnson Tiles, Joint Venture of the Company, has decided to permanently close its wall manufacturing plant with capacity of 5 MSM per annum with effect from 01 March 2020 due to an aging unviable plant. The kiln for manufacture of wall tiles was commissioned in FY'2001 with second-hand machinery and associated with the H & R Johnson (India) Division (HRJ) of the Company from FY'2007. The unit contributed to approximately 3% of the total turnover of HRJ consolidated sales.

Adequate cost effective arrangements have already been made for transition to outsourced vendor(s) so that there is full continuity with better profitability and no impact on sales.

With this, the overall capacity of H & R Johnson (India), a Division of Prism Johnson, along-with its joint ventures and subsidiaries would stand at reduced to 63 MSM per annum.

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