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Small foundries to reopen tomorrow | Coimbatore News

Coimbatore: Three days after they went into indefinite shutdown to protest the soaring prices of raw materials such as pig iron and stainless steel and scrap, small-scale foundries in the district on Saturday decided to resume operations from Monday at a meeting that was convened by the Coimbatore Tiny and Small Foundry Owners’ Association (Cosmafan). More than 400 small-scale foundries had stopped production on Wednesday after prices of raw materials had gone up by 26% on an average since November. Speaking to TOI, A Sivashanmuga Kumar, president, Cosmafan, said the decision to resume production was taken after most of their customers agreed to the price revision by at least 25% and to retain labourers. He said they were hopeful that the Union government would take necessary measures to control the price rise.

Small foundries call off strike

Small foundries call off strike Updated: Updated: Share Article AAA Small foundries in Coimbatore, numbering nearly 400, that were on indefinite strike since December 16 will resume operations on Monday (December 21). According to a press release from the Coimbatore Tiny and Small Foundry Owners’ Association, it was decided to call off the strike temporarily as the manufacturing industries that are dependent on foundries - pumpset, textile, wet grinder units - were all affected without casting supply from the foundries. The workers who were hit during the lockdown will go jobless if the foundries did not operate. And, most of the customers of the foundries have agreed to pay higher prices for the castings. Hence, it was decided to temporarily call off the strike.

Nearly 400 small- scale foundries stop production

Updated: The total production loss is estimated at ₹ 30 crore a day Share Article AAA Slow down: Workers resting at a foundry in Coimbatore that stopped production on Wednesday.   | Photo Credit: PERIASAMY M The total production loss is estimated at ₹ 30 crore a day Nearly 400 small-scale foundries here stopped production on Wednesday demanding measures to control prices of raw materials. Pig iron, coke, and scrap are the main raw materials consumed at foundries. While prices of pig iron are up by more than 25 %, that of coke and scrap have increased by nearly 30 %, says Coimbatore Tiny and Small Foundry Owners’ Association (COSMAFAN) president A. Sivashanmuga Kumar.

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