NUCHEM

Nuchem Limited has informed the Exchange that : (1) The IFCI Ltd. has withdrawn its nominee director Sh. Alok Sabharwal from the Board of Directors of the company w.e.f. June 24, 2011; (2) In the wake of prevailing financial constraints, the management has declared a lock-out at Chemical Division of the company w.e.f. June 26, 2011.

Nuchem Limited had informed the Exchange regarding declaration of a lock-out at company's MDF Plant at Tohana effective late evening of March 05, 2011. The company has now informed the Exchange that the matter has been resolved with concerned employees, who were on sit-in-strike since February 28, 2011 and the lock-out has been lifted there effective 6.00 a.m. on March 11, 2011. The Plant operations are expected to be normalised soon.

Nuchem Limited has informed the Exchange that a section of the supervisory and lower managerial cadre at Company's MDF factory at Tohana have been on illegal sit in strike since February 28, 2011. The management has been trying to resolve the matter including with the help of local administration, but these employees have been adamant. Some unscrupulous persons from these employees went to the extent of man-handling of senior executive cadre of the plant. Of late, the management having come to know that some of these employees were planning to damage the Company property while sitting in the f

Nuchem Ltd has informed the Exchange that " On 11th July, 2009 there was an unexpected breakdown in the boiler at the MDF plant at Tohana, leading to force majeure closure of the Plant. The boiler is used for generating the steam for the process as well as for running the captive power plant. The plant was normally expected to be back in line within 4-5 days of the closure, however, due to delay in availability of critical components, the closure had to be per force extended. The Plant is now expected to be operational by the week-end and the operations are expected to be normalised in next t