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.
Small foundries call off strike
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Small foundries in Coimbatore, numbering nearly 400, that were on indefinite strike since December 16 will resume operations on Monday (December 21).
According to a press release from the Coimbatore Tiny and Small Foundry Owners’ Association, it was decided to call off the strike temporarily as the manufacturing industries that are dependent on foundries - pumpset, textile, wet grinder units - were all affected without casting supply from the foundries. The workers who were hit during the lockdown will go jobless if the foundries did not operate. And, most of the customers of the foundries have agreed to pay higher prices for the castings. Hence, it was decided to temporarily call off the strike.
Coimbatore: Around 400 foundries remained closed for the second day on Thursday to protest the steep rise in prices of raw materials. Foundry owners demanded the Union government to take steps to control the increase in steel prices and requested to constitute a committee to monitor the price hike.
The protesting foundries are members of the Coimbatore Tiny and Small Foundry Owners Association. They are mainly located at Arasur, Manickampalayam, Peelamedu, Irugur and Keeranatham in the district.
It is to be noted that pump makers, wet grinder makers, and automobile and textile industries are dependent on foundries, which make metal castings. These units need steel, the price of which has shot up by 30% since November. The units started indefinite strike on Wednesday, demanding the Centre to impose ban on steel export and reduce steel price.
Coimbatore: More than 400 small-scale foundries in the district downed their shutters indefinitely on Wednesday to condemn the central and state governments for their inaction in controlling the spiraling prices of raw materials.
The shutdown would affect lakhs of workers who are working in and with foundries and other industries including pumps, textile machinery, automobiles and other engineering industries.
“The price of raw materials has increased up to 30% since November. When about 80% of our investment is required to procure raw materials, it is impossible to continue doing business mainly for the small-scale industries who had been working with minimal profit margin. Even though half of our customers have agreed to revise the price, we decided to continue the strike. We want to gain the attention of both the state and central governments who remain silent despite escalating the issue multiple times,” president of Coimbatore Tiny and Small Foundry Owners Association (C
400 foundries halt production in Coimbatore over raw material price hike
The foundries, affiliated to the Coimbatore Tiny and Small Foundry Owners Association (COSMAFAN), stopped production indefinitely, resulting in a loss of Rs 30 crores daily, its president Shiva Shanmughakumar said
PTI | December 16, 2020 | Updated 17:10 IST
Coimbatore and Tirupur Medium Industries Association with nearly 50,000 units has also given a call to down shutters for a day on Wednesday
About 400 small and tiny foundries in the district remained silent on Wednesday as part of their indefinite strike to draw the attention of the Centre to the spiralling price of raw materials since the last two months.