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Hot Pursuit News

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(06 Dec 2023, 11:45)

Greenpanel Inds slides on discontinuing operations due to Cyclone

Greenpanel Industries declined 1.24% to Rs 324 after the company informed that operations at MDF plant located at Chittor, Andhra Pradesh, has been disrupted due to Cyclone Michaung.

The company stated that the MDF plant has been temporarily shut down. It is taking adequate steps to ensure resumption of operations of the plant at the earliest.

During the aforesaid period, the firm will continue to service the customers uninterruptedly from the inventory of finished goods subject to logistics availability.

The plywood maker is in the process of ascertaining the loss/damage caused by Cyclone Michaung. The loss is covered under Insurance Policy and the insurer has been intimated about the loss. The loss amount shall be ascertained after survey.

Greenpanel is India's largest manufacturer of wood panels. Our state-of-the-art manufacturing plants in Uttarakhand and Andhra Pradesh make top-quality medium density fibreboard (MDF), plywood, decorative veneers, floo...

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