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Outcome of board meeting of Morganite Crucible (India)
(16:14, 17 Oct 2019)
The Board of Morganite Crucible (India) at its meeting held on 17 October 2019 has recommended to transfer the business by way of shifting ofplant and machineries from Mehsana, Gujarat Plant to Aurangabad, Maharashtra plant.

It was further discussed thatthe Company expects to start shifting of business activities of Mehsana plant fromJanuary, 2020 onwards and to complete the installation and commissioning of plant andmachineries in Aurangabad by March, 2020. The Company has taken necessary stepsabout inventory management to meet the market demands during transition phase withoutany delay. The Company will be offering Mehsana employees and workers to join atAurangabad plant after transfer of business however those who doesn't want to join, thesuitable compensation shall be paid as per applicable statute.

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