Bosch stops production at Nashik plant till May 23

Auto component company Bosch told the media on Wednesday that the company has stopped operations at its Nashik plant from noon till the midnight of May 23 adhering to the state government directives to break the spreading chain of Covid-19 cases. All the indirect, direct and off-roll employees working at the facility have been told to stay at home, consequently. The company's Nashik plant provides for standard rail systems, with their key speciality being injectors and nozzles for heavy and commercial vehicles, passenger cars, and tractor segments. The company noted that the shutdown of the operations would affect the supplies to the Original Equipment Manufacturer (OEM) and automotive aftermarket segment as well, which is already having issues with lockdowns and supply chain volatilities. Bosch told the media that the impact on the company's business is yet to be known as it is difficult to assess at present as the situation evolves. The company employed around 2,500 associates at the Nashik plant. Bosch is a multinational engineering and technology company from German. Its headquarters is at Gerlingen. 92% of Bosch is owned by Robert Bosch Stiftung, which is a charitable institution. Robert Bosch founded the company in 1886 in Stuttgart. There are four significant operating sectors of Bosch Group—mobility solutions, which deal with hardware and software, industrial technology, including drive and control, energy and building technology, and consumer goods, which includes power tools and household appliances. Image Source