Balmer Lawrie to shut down industrial packaging unit in Mumbai

Public sector firm Balmer Lawrie & Co today said it is shutting down an industrial packaging unit in Mumbai with 97 per cent of the employees there accepting the voluntary separation package.
"Balmer Lawrie & Company Ltd has informed BSE that the execution of a Voluntary Separation Package for closure of SBU: IP, Sewree, Mumbai (Strategic Business Unit-Industrial Pacakaging) of the company has been so far accepted by 97 per cent employees of SBU: IP, Sewree.
"The consent of the residual employees has also been obtained and we hope to release them by next week whereafter the execution of the package shall be completed," the company said in a filing to the Bombay Stock Exchange (BSE).

Shares of Balmer Lawrie & Company today closed 1.45 per cent up at Rs 576.85 apiece on the BSE.