LMW TO CUT OUTPUT BY 50%, REDUCES DAILY WORKING HOURS

Article Abstract:

Lakshmi Machine Works Ltd (LMW) of Coimbatore, manufacturer of textiles machinery, proposes to reduce its inventory of finished goods. It is cutting down its production by 50 percent and reducing the working hours by two hours a day per worker. It is likely to operate two shifts instead of three shifts a day. It has an installed capacity to make machines worth Rs80 crore per month. It has orders worth Rs1250 crore, which will take 18 months for completion. Its current finished goods inventory is Rs90 crore. In 1997-98, LMW is likely to post a 5 percent lower turnover and its net profit is expected to stagnate at the 1996- 97 levels. In 1996-97, it had posted a turnover of Rs538.93 crore with a net profit of Rs23.78 crore. (rk)

Comment:

Proposes to reduce inventory of finished goods & cuts down production by 50% & reduces working hours by 2 hours/day per worker

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LMW GOES FOR THREE-DAY WEEK

Article Abstract:

Lakshmi Machine Works Ltd of Coimbatore has decided on a three- day week for its textile machinery division with effect from July 3, 1998. The division will operate six days in a week but workers will only work for three days on a rotational basis. This is being done as sluggish market conditions has reduced the division's offtake. Workers will be sent in batches to the company's in-house training institute to upgrade their skills in different trades. (khr)

Comment:

Decides on a three-day week for its textile machinery division with effect from 7/3/98

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ALL AIMS TO EXPORT 20% OF OUTPUT BY 2001

Article Abstract:

Ashok Leyland Ltd (ALL), a commercial vehicles producer, plans to export 20 percent of its production by the year 2001. This decision follows the sluggishness in the local road transport sector. It has presence in Egypt, South Africa, Kenya and Sri Lanka. It has identified West Asia and Bangladesh as the potential markets for its vehicles. ALL exported 2,150 vehicles during 1997-98 (1,526 vehicles during 1996-97). (ag)

Comment:

Plans to export 20% of its production by the year 2001

Motor Vehicles, Automobile and Light Duty Motor Vehicle Manufacturing, Exports, Ashok Leyland Ltd.

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