Caplin Point - Updates
Caplin Point Laboratories Ltd has informed BSE that the factory at Pondichery (Unit I) has been temporarily closed/laid off from March 03, 2008 due to an attack by a group of 300 people of neighboring village arising out of a death of a contractual employee. This has resulted in damage to few machinery, lab equipments, glass windows, electrical and other fittings and stocks. The factory has been temporarily closed/lay off to avoid recurrence of such event until further notice as no workmen/staff reported for duty after the incident.
The Company has also informed the Insurance Company with regard to the damages. The Company is in the process of collating information with regard to the extent of loss to submit the claim.
In the meantime, operations are continuing in the Company’s Gummidipoondi Unit II factory and the Company also propose to outsource some job work to other Companies to meet the supply targets. These steps taken together with its equal focus on trading, the Company hope the Loss arising out of the disruption would be mitigated.
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