TVS Electronics on Tuesday said it has suspended operations at all its manufacturing plants and offices with immediate effect until March 31 in the wake of the coronavirus pandemic and in compliance with advisories by various authorities.
The company said the outbreak has affected supplies of some components to its manufacturing facilities and volume of business in service segment.
"...in view of the widespread COVID-19 pandemic and to ensure health and safety of the company's employees and their families, customers and various stakeholders, the company has decided to halt operations at all its manufacturing plants and its offices with immediate effect until March 31, 2020, in line with the instructions of the central or state governments or local authorities," TVS Electronics said in a regulatory filing.
On the impact of the outbreak, the company said: "COVID-19 has affected the supply of some components to our manufacturing facilities and volume of business in 'Servicetec' segment. This is likely to impact our planned production and volume of business in excess of 10 per cent for the month of March."
The company further said it is consistently monitoring the developments and taking various measures to ensure health and safety of its employees and their families, customers and various stakeholders and to minimise the impact of outbreak of the disease on production and volume of business.
TVS Electronics is a major player in several electronics peripherals such as keyboard, thermal receipt printers, Dot Matrix printers and bar code scanners among others.
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