Texmaco declares partial lockout

CALCUTTA, April 14: The management of Texmaco Ltd on Tuesday declared a partial lockout at its Agarpara unit, an engineering works division, affecting about 900 workers.

Company sources said the lockout was declared after the workers of the two wagon manufacturing sections went on an indefinite strike on Sunday in protest against the induction of modern technology.

Texmaco, a K K Birla group company which was referred to the Board for Industrial amp; Financial Reconstruction BIFR in the late eighties, registered a net profit of Rs 2.32 lakh for the financial year 1995-96, after it had come out of the BIFR net in April 1995.

The company paid a dividend of 15 per cent in 1996-97, first time nearly after two decades.