MRF says ongoing strike has cost Rs 1,000 crore

The ongoing strike, now in its 118th day, by workers at two of tyre giant MRF's factories has resulted is Rs 1,000 crore of losses, according to K M Mammen, managing director.

Speaking to reporters on Friday in Chennai, he said, "Because of the strike at Arakkonam and Puducherry factories in the last four-five months, we would have seen Rs 1,000-crore loss." The company, he said, is talking to the Tamil Nadu government to resolve the issue and, "we are hopeful the strike would come to an end anytime at Arakkonam".

Workers at these two factories went on strike on May 9, demanding management recognition for the MRF United Workers Union. The strikers say this union has majority support and the management must negotiate pay with it.

However, MRF's management has declined and the matter is before the High Court in Tamil Nadu. The verdict is expected next week.