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Page Ind slips on temporary suspension of operations in Karnataka

Page Industries fell 1.09% to Rs 29,614.80 after the company said it has temporarily suspended its manufacturing and operations in Karnataka with effect from 30 April 2021, due to the re-emergence of COVID-19 cases.
Warehouses, elastics, raw material stores and other required departments including support functions will operate with minimum required number of employees by strictly following the COVID-19 guidelines.
The duration of the temporary suspension will depend upon improvement in the situation and health advisory by the Government of India. Since, the manufacturing facilities been shut down temporarily there will be an impact on production volumes during this period, the firm said.
We have enough inventory levels to carry us into the next couple of months. When the lockdown is lifted, Manufacturing & Operations will be commence immediately with full capacity, it added. ....

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NewAge CEO makes record $3 million gift to Montgomery County Community College

NewAge Industries is a manufacturer of plastic and rubber tubes and hoses, and related supplies. In 2006 it became an employee-owned company through an employee stock ownership plan. Since then, Baker has been a proponent of ESOPs; he co-founded and chairs the Pennsylvania Center for Employee Ownership and is a board member of the Employee Ownership Expansion Network.
“ESOPs are advantageous for both employees, who gain ownership in the business, and employers, who will be able to attract and retain talented employees, develop a succession plan and see tax benefits as well,” he said.
“My goal is to increase awareness and provide educational programs for this business model and other employee-employer partnerships through the Baker Center. ....

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