INDIA: Indian Unit Closure Costs £10m
Coats PLC said it will take an exceptional charge of £10m in the first half of the current year, resulting from the closure of its apparel fabrics business in India. Madura Coats Ltd, which is 51.52 per cent owned by Coats, announced that the closure has been completed with about half of the division's 1,700 workforce redeployed in the expanded threads business and the remainder taking voluntary retirement.
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