FLEX INDUSTRIES POSTS LOSSES, GOES FOR DEBT REVAMP
Article Abstract:
Flex Industries (FI), a producer of polyester and BOPP films, has taken up a debt restructuring programme after incurring a loss of Rs42.23 crore in 1997-98. Its sales were Rs434.80 crore. It owes Rs400 crore to financial institutions. It has submitted proposals to these institutions for changing their current loan packages. It gets nearly 50 percent of its sales from the film manufacturing business and the rest from its packaging business. FI proposes to concentrate on developing new packaging concepts during 1998-99. (ag)
Comment:
Incurs loss of Rs42.23 crore in 1997-1998 & takes up debt restructuring program
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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SKF POSTS Rs23.9 Cr LOSS
Article Abstract:
SKF Bearings Ltd, a leading bearing manufacturing company, has incurred a net loss of Rs23.9 crore during first half year of 1998-99 (Rs10.3 crore net profit in the first half year of 1997- 98). The company's poor performance has been attributed to expenses incurred in its voluntary retirement and restructuring schemes. It posted sales of Rs169.4 crore (Rs185 crore) and gross profit of Rs34.1 crore (Rs47 crore). (gs)
Comment:
SKF Bearings Ltd, a leading bearing manufacturing company, has incurred a net loss of Rs23.9 crore during first half year of 1998-99 (Rs10.3 crore net profit in the first half year of 1997- 98).
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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