Coimbatore: Three days after they went into indefinite shutdown to protest the soaring prices of raw materials such as pig iron and stainless steel and scrap, small-scale foundries in the district on Saturday decided to resume operations from Monday at a meeting that was convened by the Coimbatore Tiny and Small Foundry Owners’ Association (Cosmafan).
More than 400 small-scale foundries had stopped production on Wednesday after prices of raw materials had gone up by 26% on an average since November.
Speaking to TOI, A Sivashanmuga Kumar, president, Cosmafan, said the decision to resume production was taken after most of their customers agreed to the price revision by at least 25% and to retain labourers. He said they were hopeful that the Union government would take necessary measures to control the price rise.