Production recommences at fire affected Ceat plant
Ceat Ltd reports that production has resumed at its Bhandup facility following the fire that broke out in the plant’s raw material store on 23 February. Company managing director Anant Goenka shared with India’s Business Standard that the cause of the fire is still unknown, however sabotage has been ruled out.
As Tyres & Accessories reported more than six years ago, for a while Ceat contemplated closing the aging Bhandup facility and even toyed with the idea of selling the land it is built on to reduce company debt. Goenka, however, told Business Standard on 26 February that Ceat is no longer looking to divest the Bhandup site. “The whole speculation that we could be shutting the plant or selling the land is absolutely untrue,” he said, adding: “We did debate this (moving production from Bhandup to a new factory in Ambernath, 40 miles/64 kilometres northeast of Mumbai) at one point of time but as of now, the plans are on hold. There is no plan to move to Ambernath. We have acquired a piece of land in Ambernath but there is no plan to move this plant specifically. There could be another plant that could come up but there is no decision that has been taken yet.”