A section of workmen at MRF’s Tiruvottiyur manufacturing plant in Chennai, Tamil Nadu, have initiated an illegal strike. The strike concerns annual insurance premium payments and opposition to trainee hiring. The company is taking steps to restore normalcy and has stated that operations are being partly continued with the help of workmen who are not part of the strike. The company reports the impact does not exceed financial reporting thresholds.
Strike at Tiruvottiyur Plant
Some workmen at MRF’s Tiruvottiyur manufacturing plant in Chennai, Tamil Nadu, have engaged in an illegal strike. The primary issues relate to the payment of annual insurance premiums in advance and opposition to the hiring of trainees under the National Apprentice Promotion Scheme (NAPS), Prime Ministers Internship Scheme (PMIS) and Naan Mudhalvan Scheme.
Impact and Operations
The Tiruvottiyur factory is one of ten MRF factories across India. MRF has stated that operations at the factory are being partly continued with the assistance of workmen who are not participating in the strike, and the company is actively taking steps to restore operations to full normalcy at the earliest possible time.
Financial Impact
MRF has assessed that the impact of the strike does not exceed the financial thresholds requiring disclosure. The company has also assured that it will keep the stock exchanges informed of any material developments regarding this situation.
Source: BSE
