Adhunik Metaliks not to cut production
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Wednesday, 26 Nov 2008
ET reported that Adhunik Metaliks has decided against cutting down production despite a slowdown in the automotive sector.
Mr Manoj Agarwal MD of Adhunik Metaliks said that “We have decided to maintain our output levels despite the overall slump in the auto sector globally.”
He added that “Instead we would like to take advantage of the 12% to 15% differential in rupee to dollar exchange rate to tap new markets.”
He said that a slump in freight charges on container shipments from USD 60 to USD 9 is also expected to serve as a big boost in terms of cost competitiveness
