Strike hits production at Mahindra & Mahindra's Nasik plant
05 May 2009
Workers at the Nasik plant of Mahindra & Mahindra Ltd have resorted to an ''illegal'' tools-down strike from 5 May in response to a disciplinary action initiated against an office bearer of the employee's union for alleged acts of indiscipline, the company informed the Bombay Stock Exchange (BSE).
The strike has affected work at the automotive sector of the company, according to the release.
''The illegal strike will temporarily affect production at the Nashik plant'', the release said, adding the Management is in dialogue with the union and the workmen to resolve this impasse and the company expects a solution soon.
Meanwhile, Mahindra & Mahindra's Farm Equipment Sector (FES), a part of the $6.7 billion Mahindra Group, maintained its leadership position in the tractor industry in April 2009, the group said in a press release.
During April 2009, domestic sales of tractors of M&M tractors stood at 11282 units as compared to 8125 units in the same period last year, an increase of 39 per cent. Exports during the month were 358 units, as against 520 units in the same period last year. Total sales (domestic + exports) for the month were 11,640 units, as compared to 8,645 units for the same period last year - an increase of 35 per cent.
The Mahindra Group is among the top 10 industrial houses in India and a market leader in multi-utility vehicles in India. It made a milestone entry into the passenger car segment with the Logan. Mahindra & Mahindra is the only Indian company among the top tractor brands in the world.
The Group has a presence in key sectors of the Indian economy, including the financial services, trade, retail and logistics, automotive components, after-market, information technology and infrastructure development.
Mahindra also made an entry in the two-wheeler segment which will see the company emerge as a full-range player with a presence in almost every segment of the automobile industry. (See: M&M launches two-wheeler Flyte)