By Saikat Chatterjee
Oct. 25 (Bloomberg) -- Grasim Industries Ltd., India's third-biggest cement maker, said it will cut production of viscose-staple fiber due to the global economic slowdown and rising inflation.
Production of the synthetic fiber will be reduced by about 30 percent at two factories in the central state of Madhya Pradesh and western Gujarat, the Mumbai-based company said in a statement to the Bombay Stock Exchange today.
Grasim also plans to advance a scheduled maintenance, it said in the statement.
To contact the reporter on this story: Saikat Chatterjee in New Delhi at schatterjee4@bloomberg.net.
Saturday, October 25, 2008
Grasim to Cut Production of Fiber By 30% on Global Slowdown
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