New Delhi, Jun 17 (PTI) Zydus Wellness Ltd on Friday said it will stop operations at its Sitarganj production facility in Uttarakhand as part of a manufacturing and supply chain network optimisation exercise.
Advertisment
The board of directors of the company at their meeting on Friday passed a resolution to cease the operations of Sitarganj manufacturing facility with effect from June 18, 2022, Zydus Wellness Ltd said in a regulatory filing.
The decision was taken as part of manufacturing and supply chain network optimisation exercise and to make manufacturing operations leaner and agile to the consumer needs, it added.
The Sitarganj facility belongs to Zydus Wellness Products Ltd, a wholly owned material subsidiary of the company, it added.
The company and its subsidiaries had conducted a strategic review of its manufacturing footprint.
Zydus Wellness said it "does not anticipate any material effect due to this decision since the products manufactured at said manufacturing facility will now be manufactured at other manufacturing locations of the company and its subsidiaries."
/newsdrum-in/media/agency_attachments/ipXwqL5g8EOqSkmkiZUK.png)
/newsdrum-in/media/member_avatars/9Rj3p38eDEeibqzKtTLR.jpg )
Follow Us