Century Textile to cut yarn production by 25%

MUMBAI: Century Textile & Industries, part of the BK Birla group, on Friday said it would temporarily cut down its viscose filament yarn production by 25% by the end of February, due to adverse market conditions and demand recession.

The company is in the process of suspending part operations of viscose filament yarn and viscose tyre yarn by stopping production at its factory at Century Rayon in Kalyan, Century Textile said in a statement to the exchanges.

Shares of the company closed 1% down at Rs 150.60 at the Mumbai stock market amid subdued sentiments.