Losses Worth Crores: Vendors Meet Tamil Nadu Minister Over Ford Exit
NDTV
The vendors said the Ford's exit will translate to huge losses in terms of raw materials that have piled up, imported and locally made parts and exclusive machinery.
At least 75 vendors from across Tamil Nadu, supplying components to auto major Ford, met state Rural Industries Minister TM Anbarasan in Chennai after the car-maker announced its India exit. Claiming that business with Ford made up 20-40% of their business, the vendors elaborated how the plant's closure - just outside Chennai - will impact their businesses. Ford had cited a drastic fall in market share while announcing its exit from the Indian market.
SFC Solutions, which made fuel and brake systems for the auto giant, is worried about its 300 workers as 80% of the components the company manufactured have been for Ford. The representative of the company told authorities, "At least 200 of the 300 jobs will be lost. We also have imported parts worth Rs 25 crore."
"We don't want to send any worker from my company. But if something doesn't work out, we will have to," said S Nargunam, Adviser to industry body TIEMA.
The vendors said the carmaker's exit will translate to huge losses in terms of raw materials that have piled up, imported, and locally made parts, and exclusive machinery.
