PBM Polytex’s workmen go on illegal strike

The workers at Petlad unit of PBM Polytex have gone on illegal strike on invalid reasons and therefore production at the said unit of the Company has totally stopped since May 14, 2014. Earlier, Credit rating agency, CARE had revised rating of company’s long term bank facilities worth Rs 52.06 crore to ‘BBB+’ from ‘BBB. PBM manufactures a wide range of products from Ne 24’s to Ne 80’s, both single and TFO doubled yarns from as many as 25 raw material mixes. Besides Indigenous raw cotton like DCH 32, MCU 5, Shankar 6 and MECH.