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400 foundries halt production in Coimbatore over raw material price hike The foundries, affiliated to the Coimbatore Tiny and Small Foundry Owners Association (COSMAFAN), stopped production indefinitely, resulting in a loss of Rs 30 crores daily, its president Shiva Shanmughakumar said PTI | December 16, 2020 | Updated 17:10 IST Coimbatore and Tirupur Medium Industries Association with nearly 50,000 units has also given a call to down shutters for a day on Wednesday About 400 small and tiny foundries in the district remained silent on Wednesday as part of their indefinite strike to draw the ...

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 Tin...

COIMBATORE: Unable to cope with the rising raw material costs, small-scale foundries in the district have decided to shut operations and launch an indefinite strike from Wednesday. While the foundries were hit hard by the lockdown, the steep hike in raw material prices has worsened the situation, said president of Coimbatore Tiny and Small Foundry Owners Association (Cosmafan) A Sivashanmuga Kumar. “Price of raw materials has been increasing around the same time for the last four years. Along with the main raw materials like pig iron, scrap and coke, price of allied components has increase...

The foundry owners sought the Centre's intervention to control the rising prices of raw materials. Speaking to journalists on Monday, A Sivashanmuga Kumar, president of Coimbatore Tiny and Small Foundry Owners Association (Cosmafan) said, “Most of the foundries are badly affected during the lockdown period and after a long struggle, it is only now we have started to increase the production. The raise in raw materials price has come as another blow to us.” Pointing out that the prices of the raw materials have been increasing around the same time since the last four years, he said, this ...