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Baramati unit of Soma Textiles runs only single shift
14
Jul '11
Citing shrinkage in export market impacted partly by the withdrawal of export incentives among other reasons, Ahmedabad based Soma Textiles & Industries Ltd informed BSE that its Baramati plant has been working on a single shift basis since May 15.

Soma Textiles said that, in view of sharp and sudden decline in cotton yarn prices coupled with other relevant factors, lead to piling up inventory of finished goods for majority of cotton and cotton yarn manufacturing units in India, has led to collectively creating a reverse business scenario in Indian yarn market.

Further the company informed that, amidst such a reverse operative environment and business situation, it has been working on single shift basis at its Baramati unit with effect from May 15, 2011.

Fibre2fashion News Desk - India


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