Following news of the lockout at Apollo’s Kerala, India, facility, shares in the company fell by around 6%.
But management reassurances that the company would make up the production deficit elsewhere and 85% of the workforce wanted to return to work have pushed share prices to levels experienced prior to the lockout, according to financial news sources.
The Perambra unit is important to the company, responsible as it is for just over a third of Apollo’s 1,000 tons/day production capacity, having enhanced its production to 340 tons recently, according to India Infoline. (Tyres & Accessories)