Mahindra Ugine to cut production due to economic slowdown
It has been announced by the Mahindra Ugine Steel Company that it has decided to align the company's production plans with the expected demand due to the ongoing economic slow down in the steel as well as the automotive industry and taking into account the slowdown in demand for the company's products.
It has been learnt that there has been a reduction to one or two shifts instead of three shifts, depending on the workload at the manufacturing plants of the company. Furthermore, except for Nashik, all other plants will work for five days a week as per work schedule instead of seven days a week, till further notice.
Alloy steel and stampings are manufactured by Mahindra Ugine Steel Company, a part of Mahindra group.