B K Birla flagship Kesoram Industries today said due to slowdown in demand from export market and original equipment manufacturers it has decided to close down production facilities in Orissa.
In a filing to the Bombay Stock Exchange, Kesoram Industries said, "Looking at the current demand scenario it is inevitable to close down temporarily, the production facilities at Birla Tyres, a unit of the company, at Balasore in Orissa."
The closure would come into effect from January 19, 2009 till January 31, 2009 and thereafter the production would be only for 13 days in every month till March 31, 2009, the filing said.
Further, the matter would be further examined and hope that the situation improves after March 2009, it added.
