Wendt India of Murugappa group has come out with an explanation on the incident of fire breaking out on Sunday in its facility which manufactures abrasives and auto components in Hosur.
"A minor fire accident occurred yesterday, 13thJanuary 2019 at the Electroplating manufacturing facility situated inside our plant at 69/70, Sipcot Industrial Complex, Hosur - 635 126, Tamil Nadu. This facility manufactures electroplated products, which is one of our product lines," it said in a statement.
Wendt India added: "The fire was immediately brought under control and there is no loss or injury to human life. The extent of damage which is under assessment is not likely to cause any significant impact on our operations considering the presence of an alternate facility." According to officials, the fire was soon brought under control and there was no loss to life or limb, but the damage caused to the factory was being assessed. They added that the blaze occurred at the electroplating manufacturing unit of the company. Meanwhile in a filing to the BSE, the company said, "The extent of damage which is under assessment is not likely to cause any significant impact on our operations considering the presence of an alternative facility."
Founded in 1900, the INR 329 Billion (32,893 Crores) Murugappa Group is one of India's leading business conglomerates. The Group has 28 businesses including nine listed Companies traded in NSE & BSE. Headquartered in Chennai, the major Companies of the Group include Carborundum Universal Ltd., Cholamandalam Investment and Finance Company Ltd., Cholamandalam MS General Insurance Company Ltd., Coromandel International Ltd., Coromandel Engineering Company Ltd., E.I.D. Parry (India) Ltd., Parry Agro Industries Ltd., Shanthi Gears Ltd., Tube Investments of India Ltd., TI Financial Holdings Ltd and Wendt (India) Ltd.