Coronavirus impact: Mahindra CIE temporarily suspends production activities

Image
Press Trust of India New Delhi
Last Updated : Mar 24 2020 | 12:24 PM IST

Auto component firm Mahindra CIE Automotive has suspended production activities in all plants across the country, except in Karnataka, due to the coronavirus pandemic.

The company and its subsidiaries,including Aurangabad Electricals Ltd, have suspended operations at all the manufacturing units in India, except in Karnataka, from March 23 till the government restrictions are removed, Mahindra CIE Automotive said in a regulatory filing.

The operations at Karnataka plants shall be suspended from March 25, 2020 till March 31, 2020. However,the same is subject to review of rapidly changing circumstances, it added.

The company's subsidiary in Italy, Metallcastello SpA, has also suspended its operation from March 23, Mahindra CIE Automotive said.

The closure is expected till April 6, 2020, it added.

"In Germany, due to the reduction of the demand due to the coronavirus outbreak, our subsidiary Schoneweiss & Co GmbH will be also closed for next two weeks," it said.

The other two German subsidiaries, Gesenkschmiede Schneider GmbH and Falkenroth UmformtechnikGmbH will continue its operation, but at a reduced output, during this period, it noted.

Besides, the company's Spain-basedsubsidiaries will stop operations for next two weeks to adapt outputto the new demand, it added.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 24 2020 | 12:24 PM IST

Next Story