Date:18/08/2007 URL: http://www.thehindubusinessline.com/2007/08/18/stories/2007081851370200.htm

Back Fire at Alok Ind texturising plant

Mumbai, Aug. 17

Alok Industries texturising unit at Silvassa caught fire on Thursday at 4:30 pm, informed a company release to the BSE. “Sixty to 70 machines might have been damaged in the half acre plant, but there has been no loss of life or injury to any of the employees or factory workers,” said a company official. The extent of damage will be ascertained once the insurer, United India Insurance, finish its investigations. The company’s plant is totally secure (insur ed) against fire, including loss of profit policy, for the days the plant will remain un-operational, said the release. The management has begun to take stock of the situation, said the company official and it might take three to six months to revive the plant sufficiently for work to begin. The company has another small polyester plant at Silvassa and might transfer some production functions to it. The company’s shares closed at Rs 59.15 on Friday, down by 2.95 per cent, from the previous day’s close.

— Our Bureau