Greenpanel Industries temporarily shuts down operations at Chittoor MDF plant

17 Jan 2022 , 09:16 AM

Greenpanel Industries Ltd has informed that the manufacturing operations at Company’s MDF plant situated at Chittoor, Andhra Pradesh shall remain closed for a period of about 8 days (approx.) w.e.f. January 17, 2022.

As per regulatory filing, the operations shall remain closed due to addition of new machinery (Mat Heating System) to speed up the production process and increase the capacity utilization.

“An estimated expenditure of Rs8-10cr (approx.) shall incur for addition of the above machinery and likely to result increase in production capacity of the plant from existing 3,60,000 CBM to revised 4,44,000 CBM (approx.) per annum”, said company.

On Monday morning trade, Greenpanel Industries was trading at Rs459.55 per piece higher by 1.64% on Sensex.