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Monday, October 17, 2011

Maruti Suzuki gains on resuming production


Maruti Suzuki gains on resuming production

NEW DELHI: Maruti Suzuki has moved higher by about 4% at Rs 1,066.40 on reports that the company has resumed partial production at its Manesar plant. 

Maruti Suzuki, India's biggest carmaker, resumed limited production at its Manesar plant, shut down by labour unrest on Monday, a company statement said, as the firm hopes to begin talks with the workers to end strikes that have cost over $330 million in lost production. 

Maruti, 54.2-percent owned by Japan's Suzuki Motor, has suffered a production loss of over 50,000 cars this year due to labour unrest which culminated last week when workers took control of its Manesar plant in north India. 

A supporting strike at a neighboring Suzuki Powertrain plant, which builds engines for the carmaker, halted supplies to Maruti's other plant in Gurgaon, also in northern India, forcing the 2,800 cars a day factory to close. 

"We will be talking with the workers today and have started limited production at Manesar," a Maruti spokesman told Reuters, adding that production at the Gurgaon plant was also restarted, but would be dependent on engine supplies. 

Maurti has started operations at its Manesar weld shop with some trained workers from among those who have refused to join the strike, the statement said. 

The losses compound the woes at Maruti, which saw a 21-percent drop in September sales as rising interest rates and vehicle costs hurt demand in the world's second-fastest growing major auto market after China. 

Shares of the carmaker closed 2.4% higher at Rs 1053.05. The stock surged to hit its day's high of Rs 1066.40, up nearly 4% after news of the production restart on Monday, against a 0.3 percent fall in Mumbai's benchmark index. 

Maruti shares have fallen more than 27 percent in 2011, under performing a nearly 20-percent fall in the broader market. 

Brokerage View: 

Earlier in the week, Goldman Sachs in a recent report cut production estimates for Maruti Suzuki Ltd and maintained a 'Neutral' rating with a 12-month price target of Rs 1071, a cut from Rs 1173 target earlier. 

The brokerage report says, "Owing to persistent labour strikes at Maruti Suzuki's Manesar plant and supplier Suzuki Power Train, we cut our volume estimates for Maruti Suzuki to 1.2mn units for FY12E (from 1.35mn) with further potential downside should the current impasse continues." 

Maruti workers' strike enters Day 11, meeting with management likely today

Maruti workers



With the strike at Maruti Suzuki's India Limited'sManesar plantentering its 11th day, there was no sign of an end to the impasse between theagitating workersand the management on Monday.
 
Even as the workers' union and the top management were set to meet on Monday to discuss and end the stalemate, the protestors toughened their stand.
 
Workers' rally today
The workers have been on a collision course demanding that the sacked employees be reinstated. They also want wages for 64 days, cut by the management.
 
The trade unions have called for a huge show of strength rally in the city later on Monday.
 
Earlier, after the Haryana labour department declared the strike illegal, the workers had vacated the factory premises on Friday. The company now hopes to start production from Monday.
 
'Limited production started'
Meanwhile, a statement released by Maruti Suzuki said the company has responded positively to invitation for talks by the Haryana government. It said that production had started in a limited way at the Manesar plant with the help of workers who have not joined the strike.
 
The company however said that some of its equipment at the Manesar plant were damaged. In the Press Shop, some parts have been removed from the dies, rendering them non-operational. In the Weld Shop, about 10 robots have been rendered non-operational.
 
Operational settings of some machines have also been tampered with. The company said these had been repaired in the last two days and made ready for limited operations.
 
Workers claim support
Meanwhile, more than 127 analysts and fund managers participated in a conference call with Sonu Gujjar -- the president of Maruti Suzuki Workers' Association who has been leading the protest -- last week to understand the reasons for the agitation.
 
Speaking toHeadlines Today, he claimed to have support from all quarters.
 
"We want them to recognise our union and reinstate sacked workers. Moreover no action should be taken against any worker," Gujjar said.
 
Asked about support to his agitation, he said, "This is a workers' agitation and everyone is backing us. ITUC, HMS everyone is backing us. There is no particular body or individual, but we have the collective backing of everyone."

Maruti Suzuki Resumes Production

NEW DELHI -- Maruti Suzuki India Ltd. Monday resumed manufacturing cars at one of its factories after nearly 10 days, even as about 1,500 regular workers continued their strike two days after vacating the plant premises.

Agence France-Presse/Getty Images

Workers shout slogans as they wave flags outside a Maruti Suzuki vehicle plant at Manesar, on the outskirts of New Delhi on October 14, 2011.

The auto maker began operations at a weld shop at the factory at Manesar, in the northern state of Haryana, by using 180 trained workers who haven't joined the strike, the Suzuki Motor Corp. unit said.

Shares of Maruti surged as much 3.7% on the Bombay Stock Exchange after the news. They later pared some gains and closed 2.4% higher at 1,053.05 rupees, outpacing a 0.3% fall in the main index.

Maruti had halted production at Manesar since Oct. 7 after workers, demanding reinstatement of 44 colleagues who were not taken back after a 33-day impasse, went on strike and started protesting in the plant premises.

A court on Thursday asked the striking workers to vacate the Manesar factory and to not protest within 100 meters of the plant.

Maruti said it has in the past two days repaired some of the equipment at the Manesar plant, which it alleged were tampered with by the striking workers.

The company said its management, along with Haryana government officials, met striking workers Monday. "The meeting was inconclusive," said a Maruti spokesman, who didn't wish to be named.

Maruti Monday made 1,700 vehicles at its Gurgaon factory, also in Haryana, where production was suspended on Friday and Saturday due to a shortage of parts from another Suzuki unit called Suzuki Powertrain India Ltd.

The workers at Suzuki Powertrain, as well as those in two other factories -- owned by Suzuki Motorcycle India Pvt. Ltd. and Suzuki Castings Ltd. -- were also on strike since Oct. 7 to show solidarity with their peers from Maruti.

Maruti said it was informed by the management of Suzuki Powertrain that partial production has resumed at the auto-part maker's Manesar factory.

Suzuki Powertrain is the sole supplier of diesel engines as well as transmissions for Maruti's K-series gasoline engines. Only four out of 13 car models Maruti makes don't use a K-series engine.

The current labor unrest follows Maruti's Aug. 29 decision to halt operations at Manesar after it asked 950 workers to sign a "good conduct bond" before they could enter the factory. The move came after the company said it discovered "serious and deliberate" quality problems in cars made at the plant.

Write to Nikhil Gulati at nikhil.gulati@dowjones.com

http://online.wsj.com/article/SB10001424052970204346104576636203905212980.html

Full coverage

Maruti impasse Talks between management workers on Monday

Moneycontrol.com - ‎Oct 16, 2011‎
Published on Sun, Oct 16, 2011 at 09:05 | Source : PTI Maruti Suzukimanagement and striking workers will hold talks on Monday in a bid to resolve the ongoing impasse, the Haryana government said today. "I have been told by the management of Maruti ...

Maruti workers, management likely to meet today

India Today - ‎5 hours ago‎
With the strike at Maruti Suzuki's India Limited's Manesar plant entering its 11th day, there was no sign of an end to the impasse between the agitating workers and the management on Monday. Even as the workers' union and the top management were set to ...

Maruti Suzuki gains on resuming production

Economic Times - ‎3 hours ago‎
Maruti Suzuki, India's biggest carmaker, resumed limited production at its Manesar plant, shut down by labour unrest on Monday, a company statement said, as the firm hopes to begin talks with the workers to end strikes that have cost over $330 million ...

In absence of single burning issue are striking Maruti workers able to drive...

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Even as the situation at Manesar represents a veritable tinderbox, the precise genesis of thestrike and the events that shaped the impasse remain deeply contested. But some conclusions are possible. The cordial relations the company shares with ...

Maruti deadlock continues as talks fail

Hindustan Times - ‎19 minutes ago‎
Talks between the workers and management of automobile giant Maruti Suzuki failed to make any headway on Monday, with the strike at the company's Manesar plant continuing for the 11th day. "We will resume talks tomorrow (Tuesday)," a senior Maruti ...

Talks to start on Monday to resolve Maruti Suzuki strike

Economic Times - ‎Oct 15, 2011‎
After workers at the Manesar plant went on strike, labourers at Suzuki Powertrain India Limited (SPIL), which supplies diesel engines and transmission assemblies to Maruti cars, halted production to express solidarity. Meanwhile, Suzuki Motorcycles ...

Maruti Suzuki: Resumed Vehicle Production At Manesar Plant Monday

Fox Business - Nikhil Gulati - ‎7 hours ago‎
The auto maker has started operations at a weld shop at the Manesar factory by utilizing trained workers who haven't joined the strike, the Suzuki Motor Corp. unit (7269.TO) said. There hasn't been any production at Maruti's Manesar factory since Oct. ...

Suzuki workers agitating in support of Maruti labour strike evicted

Hindustan Times - ‎Oct 15, 2011‎
... taken back after an earlier 33-day impasse with the management ended on Oct 1. After workers at the Manesar plant went on strike, labourers at Suzuki Powertrain India Limited (SPIL), which supplies diesel engines and transmissions to Maruti cars, ...

Maruti strike keeps customers waiting for vehicles

Daily Bhaskar - ‎Oct 15, 2011‎
Workers at the Maruti Suzuki's Manesar plant went on strike Oct 7, demanding reinstatement of 44 suspended co-workers, who were not taken back after an earlier 33-day impasse with the management that ended on Oct 1. After workers at the Manesar plant ...

Labour, supply issues halt production at Maruti Suzuki

Zee News - ‎Oct 14, 2011‎
Workers at the Manesar plant went on strike on Oct 7 demanding the reinstatement of 44 suspended co-workers who were not taken back after an earlier 33-day impasse with the management ended Oct 1. The plant continues to remain captive in the hands of ...

Maruti staff braces for a black Diwali

India Today - ‎Oct 15, 2011‎
Workers at the Manesar plant went on the strike on October 7, demanding the reinstatement of 44 suspended co-workers who were not taken back after an earlier 33-day impasse with the management ended on October 1. After the Manesar staff went on the ...

Maruti management, workers to talk on Monday

India Today - ‎Oct 15, 2011‎
Maruti Suzuki management and striking workers will hold talks on Monday in a bid to resolve the ongoing impasse, the Haryana government said on Saturday. "I have been told by the management of Maruti Suzuki today that it would hold talks with workers ...

Maruti production halted, workers leave Manesar plant

Peninsula On-line - ‎Oct 14, 2011‎
Workers at the Manesar plant went on strike on October 7 demanding the reinstatement of 44 suspended co-workers, who were not taken back after an earlier 33-day impasse with the management ended October 1. Meanwhile, production at Maruti Suzuki's ...

Maruti resumes partial production at Manesar plant; strike still on

Hindu Business Line - ‎2 hours ago‎
The agitation at Maruti Suzuki India's (MSI) Manesar plant entered its 11th day on Monday with workers protesting outside the factory premises, but the company said it has resumed partial production. "The company has resumed operations at Manesar with ...

Component suppliers bear brunt of Maruti-workers rift

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MUMBAI: Rising inventory, underused plants and an idle workforce are threatening the prospects of Maruti Suzuki's 250-odd component suppliers caught in the middle of the labour-management dispute at India's largest carmaker. These vendors have lost Rs ...

Maruti's Manesar plant resumes partial production, strike on

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NEW DELHI: The strike at Maruti Suzuki India's (MSI) Manesar plant entered its 11th day today, with workers protesting outside the factory premises, but the company said it has resumed partial production at the plant. The company also said production ...

Maruti back to work, govt calls for talk with workers today

Moneycontrol.com - ‎6 hours ago‎
Maruti Suzuki , India's biggest carmaker, resumed limited production at its Manesar plant shut down by labour unrest on Monday. Talks are all set to happen today between the management and the striking workers, held by the Haryana government, ...

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Maruti Suzuki s Gurgaon plant resumes operations today

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The Gurgaon facilities were closed on Friday and Saturday on account of thestrike at Suzuki Powertrain India Limited, (SPIL) the supplier for diesel engines and transmissions. Production also started in a limited way at the company's plant in Manesar. ...

India's Maruti resumes 'limited' operations amid strike

AFP - ‎4 hours ago‎
NEW DELHI — Strike-hit Maruti Suzuki, India's biggest carmaker, resumed "limited" operations on Monday and said it would start talks to settle a labour row that has cost the company hundreds of millions of dollars. The company, majority owned by ...

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NEW DELHI: Labour minister Mallikarjun Kharge on Monday said the Centre is monitoring the 11-day-long strike at the country's largest car-maker Maruti Suzuki India's Manesar plant, but ruled out direct intervention as long as the Haryana government is ...

'Limited' production starts at Maruti strike plant

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NEW DELHI — India's largest carmaker, Maruti Suzuki, resumed "limited" production Monday at a plant hit by a bitter labour dispute that has cost the Japanese-controlled firm hundreds of millions of dollars. Striking workers, protesting Maruti's refusal ...

A struggle for rights

The Hindu - ‎56 minutes ago‎
The workers' struggle at the Maruti Suzuki plant in Manesar that started with a legitimate demand of the recognition of a new union and other rights of workers calls for greater intervention by the political elite in protecting the rights of the labour ...

Partial resumption at Maruti's Manesar plant as talks expected to resume today

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Strike-hit Maruti Suzuki, India's largest carmaker, announced on Monday that partial work had resumed at its Manesar plant, even as the Haryana government brokered talks between the unions and the management, expected to begin later in the day. ...

Maruti violating trade union laws: Dasgupta

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Backing the agitating workers of Manesar plant of Maruti Suzuki India Limited , CPI leader Gurudas Dasgupta on Monday took on the company's management saying it was trying to impose its will on the employees. "The management ofMaruti Suzuki India has ...

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Gurgaon: The management and the workers at the Manesar plant of Maruti are likely to meet for a round of talks on Monday. The talks are being held in bid to end the 11-day long deadlock between the sides. Meanwhile, the Haryana government has been ...

Workers Vs Management

Mint - ‎Oct 14, 2011‎
Neither side appears willing to make concessions in the Maruti Suzuki stand-off. And workers say they are now taking legal action of their own.

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Economic Times - ‎Oct 16, 2011‎
MANESAR: At least someone is gaining from the strike at Maruti Suzuki India's Manesar plant! While the management may be counting the mounting losses and the workers are staring at possible paycuts, a small snacks stall owner in front of the plant is ...

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Maruti management to again sit on negotiation table with striking workers on ...

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Impasse at Manesar: Labour Minister upset with striking workers

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Maruti's A-Star cars on the assembly line at the Maruti Suzuki plant in Manesar (file photo). – S. Subramanium
Maruti's A-Star cars on the assembly line at the Maruti Suzuki plant in Manesar (file photo). – S. Subramanium

The Haryana Labour and Employment Minister, Mr Shiv Charan Lal Sharma, has expressed disappointment with the striking workers at Maruti Suzuki's Manesar plant for violating the agreement signed with MSIL.

"I condemn workers action. They should have respected the terms of the agreement. However, I am hopeful that that the impasse will end by Sunday," Mr Sharma told Business Line.

Asked about the employees' demand of taking back casual workers, he said casual workers would be absorbed as soon as work operations at the plant normalise.

On October 1, MSIL workers at the Manesar plant agreed to sign an agreement with the management ending over a month of deadlock that began on August 29.

According to the agreement, MSI agreed to reinstate 18 suspended trainees but refused to take back 44 regular employees who remained under suspension.

The workers, in turn, signed the 'good conduct bond,' which required them to declare that they would "not resort to go slow, intermittent stoppage of work, stay-in-strike, work-to-rule, sabotage or otherwise indulge in any activity, which would hamper the normal production in the factory."

A team of Haryana Labour department on Friday met the workers at the Manesar plant and assured them that the remaining casual labourers would be absorbed by October 14 in a phased manner.

Close to 2,000 workers at the Manesar plant and 6,000 workers from different factories of the Gurgaon-Manesar industrial belt (including Suzuki Powertrain India Ltd, Suzuki Motorcycle India Pvt Ltd ), went on a sit-in-strike yesterday, demanding that their colleagues, both permanent and contract, left out, be reinstated.

Meanwhile a company official close to development said the labour unrest at Maruti Suzuki's Manesar plant is degenerating into a law and order problem, with workers indulging in violence, attacking co-workers and supervisors and damaging property inside the factory premises.

"On Saturday, the company was able to rescue as many as 355 contractual workers who were badly beaten up by the striking workers," he said.

The workers, however, denied all allegations. "We do not trust the management or the labour department. They have been making false promises to us since June and have been adopting a vindictive attitude towards us. For instance, the withdrawal of bus service between Gurgaon and Manesar was their way of revenge," a striking worker told Business Line.

When contacted, a company spokesperson said, "Yes, we have withdrawn bus facility at Manesar. Running this facility or its withdrawal is a procedural matter. But it cannot justify a strike."


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