AP's biggest Jute mills reports huge losses
Vijayanagaram, May 8, 2006The management of the Nellimarla Jute mill, the biggest in the State declared lock out from Monday. A notice to this effect was posted at the main gate citing huge losses caused due to strikes as the reason for the lock out.
Nearly 5,000 employees are now on the roads as a result of the lockout. It may be recalled that the mill was declared as sick in 1989 and registered with the Board for Industrial and Financial Reconstruction.
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