Coronavirus impact: Apollo Tyres, Ceat suspend manufacturing operations
Apollo Tyres on Tuesday said it has suspended production at its plants till March 31 in view of the lockdown in many states to contain the coronavirus pandemic.
"The operations at our plants in the states of Kerala (at Kalamassery and Perambra), Gujarat (Limda) and Tamil Nadu (Chennai) are shut down till March 31, 2020," the company said in a regulatory filing.
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Further, the employees and other staff in various offices have been instructed to work from home, it added.
The expected financial impact of the above is not ascertainable at this stage and the duration of this shutdown will depend upon directives to be further issued by the respective government authorities in this regard, it said.
Similarly, Ceat said it has suspended manufacturing operations till such regulatory advisories prevail.
The company is taking all recommended precautions and preventive measures to ensure health and safety of its employees and to contain the spread of coronavirus, including implementation of the work from home policy for all its offices, it added.