Kolkata-based Flakt India Limited, a wholly owned Indian subsidiary of Flakt Woods Group, is likely to go slow on hiring next fiscal due to current slowdown with many of its client industries shelving their expansion plans.
The company hopes to maintain its present growth level of 45 percent and achieve a turnover of Rs 200 crore by the end of this fiscal. Speaking on the sidelines of an interactive session organised by Confederation of Indian Industries, Anil R Baijal, managing director and chief executive officer, Flak (India) Limited said, “We would not go for any retrenchment unless we face a serious capacity utilisation problem. Many of the sectors we supply to has been badly hit by the economic crisis and many have shelved expansion plans. We would go slow on hiring next fiscal, but subject to market demands," he added.
The company, a leading supplier and manufacturer of air conditioning and industrial air management and air movement equipment, at present has a total employee strength of 367 with 70 percent of the workforce absorbed in its two manufacturing units at Chennai and Kolkata.
