Damodar Industries Limited Announces Closing of its Daman Plant At Dabhel, Nani Daman
Oct 10, 2023
Damodar Industries Limited announced the closure of Daman plant situated at Plot No. 165/67/68, Dabhel Ind. Co.-Op.
Soc. Dabhel, Nani Daman (U.T.) - 396210 due to end of lease period of the plant and obsolescence and scrapping of all the machinery at the facility. This closure will be effective from August 1,2023.
After careful evaluation and consideration, company have determined that the cost of upgrading and replacing the outdated machinery and lease rent of the Daman plant would be financially unfeasible. As a result, company have made the difficult decision to cease operations at this location. The closure of the Daman plant will not have a material impact on the overall operations and financial position of Company, remaining facilities and operations continue to be robust and are expected to meet the needs of customers.