Sundaram-Clayton Limited (SCL), the holding company of two- and three-wheeler maker TVS Motor, has declared non-working days at the company's major plants. The units in Chennai will not be operational between October 29 and November 2, while the one in Hosur will be shut between October 29 and 31, due to business slowdown across sectors.
This is not the first time that the company has declared non-working days. It had previously made such an announcement on October 1 and earlier in August, when it declared that its major plants would work only five days in some weeks of the month.
The company has manufacturing plants in Padi and Mahindra World City in Chennai, Oragadam near Chennai and the industrial hub of Hosur, apart from a facility in Ridgeville, South Carolina (United States).
The announcement follows the economic slowdown, which has affected production at the factories of various Original Equipment Manufacturers (OEMs) and auto component makers. Several firms have declared no-production days in their plants the past few months in order to align their operations with tepid market demand.
Part of the $8.5 billion TVS Group Company, SCL is a leading manufacturer and supplier of aluminium die-cast products to domestic and global automotive OEMs.