Aimed at securing employees, customers and stakeholders from the novel outbreak of coronavirus (COVID-19), India’s leading technology giant TVS Electronics on Monday suspended its operations at all its manufacturing plants and offices till March 31.
In a filing with the stock exchange, the Company said: “In view of the widespread COVID-19 pandemic and to ensure the health and safety of the Company’s employees & their families, customers and various stakeholders. The company has decided to halt operations at all its manufacturing plants and its offices with immediate effect until 31st March 2020, in line with the instructions of the Central, State Governments and Local Authorities.”
COVID-19 has affected the supply of some components to our manufacturing facilities and volume of business in the ‘Servicetec’ segment. This is likely to impact our planned production and volume of business in excess of 10 percent for the month of March.” The company in its filing said.
“The Company is consistently monitoring the developments and taking various measures to ensure the health and safety of its employees & their families, customers and various stakeholders and to minimize the impact of the outbreak of COVID-19 on production and volume of business,” the filing added.
