Processing .....please wait.. 
The article has been forwarded.... 
Will resume work after foolproof security: Oerlikon official
Thursday, 25 September 2008, 16:34 IST
Greater Noida: Auto components manufacturer Oerlikon-Graziano Transmissions India, whose CEO was lynched by irate employees on Monday sending shock waves among businesses in this satellite town, will decide on resuming operations after discussions with its Italian parent company, a company official said Wednesday.
"We have to ensure the security of employees and only after a foolproof safe environment is created to run the industry here," said Marcello Lambarto, CEO of M/s Oerlikon, the parent organization of Graziano Transmissions India Pvt Ltd.
"We are shocked but not discouraged. Our 
15 billion expansion plan will have to be reassessed," he told the management of its Indian venture, according to a reliable factory based source.
Lamberto visited Kailash Hospital here about 3 p.m. where about 50 Graziano workers injured in Monday's violence were admitted. He enquired about their condition and personally visited two injured workers in the ICU.
L.K. Choudhary, CEO of the Indian subsidiary, was lynched around 12.30 p.m. Monday when about 150 sacked workers barged into the factory demanding they be reinstated. The company shut operations after the incident.
Lamberto, chief of Oerlikon's international operations, visited the site of the incident.
"We are assessing the situation and looking into the circumstances that led to this situation. It will decide the future course of action. The rest is a matter of investigation (by the agencies)," the heavy spares manufacturing firm's Italian chief said.
Ramesh Chand Jain, director of Graziano Trasmissions India, said: "This was an extremely unfortunate incident. No one ever imagined this would happen. It is a complete shock to all of us."
Asked about the company's next course of action, Jain said, "We are committed to our employees and stakeholders. Everything will be decided after careful examination of the situation by the management. We constructed this plant with a great spirit and enthusiasm and were quite ambitious about it. It is too early to react or say anything. It's simply very shocking for all of us."
Company sources revealed that the 3.60 billion annual turnover Greater Noida facility - a wholly owned subsidiary of the parent Italian firm Oerlikon - planned to invest up to 15 billion over the next two years for expansion.
"But after such a disturbing incident, the company may give up all its expansion plans and tread carefully. The company may also shut this unit if the Italian management finds ample reason for doing so," a senior Graziano official said.
"After this kind of violence, any foreign firm would ultimately think of closing down and not like to operate in this kind of atmosphere. All assurances of the Uttar Pradesh government for providing fool-proof security to industries have proved false and there is no hope for security in future too," he added.
The Association of Greater Noida Industries (AGNI) held a meeting with District Magistrate Shravan Kumar Sharma and Senior Superintendent of Police R.K. Chaturvedi at the New Holland Tractors premises along with about 150 members of leading companies in the area. The police have agreed to appoint a separate Circle Officer (Industries) for the area for dealing with emergencies.
Source: IANS
15 billion expansion plan will have to be reassessed," he told the management of its Indian venture, according to a reliable factory based source.
Lamberto visited Kailash Hospital here about 3 p.m. where about 50 Graziano workers injured in Monday's violence were admitted. He enquired about their condition and personally visited two injured workers in the ICU.
L.K. Choudhary, CEO of the Indian subsidiary, was lynched around 12.30 p.m. Monday when about 150 sacked workers barged into the factory demanding they be reinstated. The company shut operations after the incident.
Lamberto, chief of Oerlikon's international operations, visited the site of the incident.
"We are assessing the situation and looking into the circumstances that led to this situation. It will decide the future course of action. The rest is a matter of investigation (by the agencies)," the heavy spares manufacturing firm's Italian chief said.
Ramesh Chand Jain, director of Graziano Trasmissions India, said: "This was an extremely unfortunate incident. No one ever imagined this would happen. It is a complete shock to all of us."
Asked about the company's next course of action, Jain said, "We are committed to our employees and stakeholders. Everything will be decided after careful examination of the situation by the management. We constructed this plant with a great spirit and enthusiasm and were quite ambitious about it. It is too early to react or say anything. It's simply very shocking for all of us."
Company sources revealed that the 3.60 billion annual turnover Greater Noida facility - a wholly owned subsidiary of the parent Italian firm Oerlikon - planned to invest up to 15 billion over the next two years for expansion.
"But after such a disturbing incident, the company may give up all its expansion plans and tread carefully. The company may also shut this unit if the Italian management finds ample reason for doing so," a senior Graziano official said.
"After this kind of violence, any foreign firm would ultimately think of closing down and not like to operate in this kind of atmosphere. All assurances of the Uttar Pradesh government for providing fool-proof security to industries have proved false and there is no hope for security in future too," he added.
The Association of Greater Noida Industries (AGNI) held a meeting with District Magistrate Shravan Kumar Sharma and Senior Superintendent of Police R.K. Chaturvedi at the New Holland Tractors premises along with about 150 members of leading companies in the area. The police have agreed to appoint a separate Circle Officer (Industries) for the area for dealing with emergencies.
Source: IANS