To adjust the shrinking demand amid an ongoing slowdown in the automotive industry, the Indian arm of German component manufacturer Bosch has announced a five days production cut at its plant in Tamil Nadu.
Bosch has confirmed in an exchange filing over the weekend that from the 23rd of July to the 27th of July 2019, production will be suspended in the Gangaikondan plant. The main motto behind it is to adjust the production to meet the demand for products and to avoid unnecessary build-up of inventory.
The plant handles production for Bosch’s Gasoline Systems business division and manufactures power train sensors, fuel-delivery modules and air management components for automotive and two-wheeler systems.
On Monday, Bosch’s shares closed nearly flat at Rs 15,151.60 on the BSE. They earlier opened at their 52-week low of Rs 15,053.65.