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Maruti Suzuki to lift Manesar lockout on Aug 21

Maruti Suzuki will lift the lock out at its Manesar plant on August 21, R C Bhargava, the chairman of India’s largest passenger car maker said on Thursday.

Maruti Suzuki  will lift the lockout at its Manesar plant on August 21,  R C Bhargava, the chairman of India’s largest passenger car maker said on Thursday. The company will make 150 cars a day initially once it reopens next week.

Maruti had shut the Manesar plant, following a workers unrest that left a general manager dead and 96 supervisors and managers injured, many having fractures, on July 18. Workers had also set fire to the office wing and main gate at the plant.

He said all the injured employees had now been discharged and some of them had returned to work.

Bhargava said safety of the employees will remain highest priority and the company with the help of Haryana Government has taken several steps to ensure the security.

There will be 500 armed Rapid Action Force personnel posted in the area with 200 of them on the Manesar factory campus and there will be policemen to ensure employees’ safe commute between their home and factory.

Maruti Suzuki will also separately employ 100 security guards, which will be stationed in the actual work area on the campus.

With such strong security presence, Bhargava said, it is unlikely that any one will resort to any violence at the plant.

The company’s most selling cars the Swift hatchback and DZire compact sedan are manufactured at Manesar.

Jigar Shah of Kim Eng Securities India estimates the company has lost production of 1,700 units per month since the lockout at Manesar.

For July, it has already lost production of 20,000 units and revenue of Rs 730 crore, he said in a recent report.

Maruti Suzuki shares ended down 1% at Rs 1,172.60 on NSE on Thursday. The company announcement of restarting the plant was made after market closed.

The stock is down 4.4% since the workers’ violence at the plant las

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Moneymunch's editors' staff. They have been writing/working on the financial markets for over two decades, having previously worked with popular financial blogs and newspapers.

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