Asahi Glass to take Rs 45-65 crore dip due to repairs

Asahi India Glass Ltd would be required to do a complete replacement of refractories in the metal bath of its Float Glass Plant at Taloja.This, however, means a considerable later restart of the Taloja Plant.

The date could be from early December to end of January, next year, depending on the speed with which some key refractories can be procured.

There will be an adverse impact on the Company's performance in the financial year 2005-06 in the approximate range of Rs 45 crore to Rs 65 crore operating income, the company informed the Bombay Stock Exchange today.

Further, the Company has informed that it has decided to use this time to do a Hot Repair of furnace at the Plant which was otherwise due in 2007. This will extend furnace life for over 4 years and also improve auto quality float glass making capability.

The Company has formulated and operationalised a detailed recovery plan and is hopeful of completing it in the minimum possible time to ensure restart of the Plant within the revised schedule, as above.

600450 Asahi Glass to take Rs 45-65 crore dip due to repairs
Date: 31 August 2005

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