Oil Country Tubular to relocate certain manufacturing facilities.

Oil Country Tubular Limited has decided to relocate some of the manufacturing facilities to a convenient location, possibly in Andhra Pradesh near Nellore, keeping in view the stir by employees, future expansion and proximity to port.

The board of directors of the company, which met here today, reviewed the company's operations and noted the issue relating to workers striking work illegally in a concerted manner without any notice or reasonable cause, resulting in disruption in the manufacturing operations.

The company, which is into oil exploration equipment and services, has a manufacturing unit at Narketpally in Nalgonda district of Telangana near Hyderabad.

Sridhar Kamineni, Managing Director of the company, informed the BSE that partial operations are continuing with the engineering staff.

The board said the levy of liquidated damages by customers were due to the delay in the supplies. The supplies were affected due to the illegal strike by the workmen. This has impacted the performance and the profitability during the year.

HBL