Date:19/10/2005 URL: http://www.thehindubusinessline.com/2005/10/19/stories/2005101902370500.htm

Back Strike halts production at Grasim plant in Karnataka

Our Bureau

Mumbai , Oct. 18

MANUFACTURING activities at Grasim Industries' Viscose Staple Fibre plant at Harihar in Karnataka have come to a halt following a strike by workers at the unit.

This unit, called Grasilene Division, constitutes about 15 per cent of the pulp and fibre business, and 4.75 per cent of the total turnover of the company, said Grasim in its notice to the NSE today. The company describing the strike as "unjustified and illegal" said it is seeking the intervention of the State Government and the Labour Department according to due process of law.

Grasim's other VSF plants, at Nagda in Madhya Pradesh and at Kharach in Gujarat, are operating normally, said the notice.

Shareholding detail: Aberdeen Asset Management Asia Ltd now holds 6.38 per cent of Grasim's issued shares, it said in a notice to the stock exchanges. This is on account of reclassification of the accounts managed or advised by it, the total Grasim shares which are given proxy voting rights amounting to 58,48,564.