Saturday, October 22, 2011

Maruti Suzuki says resolves labour unrest (Reuters)

REUTERS ? Maruti Suzuki, India's biggest carmaker, said on Friday that a labour unrest at its Manesar plant has been resolved and the operations at the facility would start on Saturday.

The carmaker, 54.2-percent owned by Japan's Suzuki Motor Corp, has lost around $400 million in production shortfall this fiscal year and seen its market share slashed due to labour problems.

"The management and workers have signed the agreement in a spirit of cooperation and mutual respect, and look forward to work closely together for the benefit of all stakeholders of the company," Maruti said in a statement.

(Reporting by Sumeet Chatterjee in MUMBAI)

Source: http://us.rd.yahoo.com/dailynews/rss/india/*http%3A//news.yahoo.com/s/nm/20111021/india_nm/india600409

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