Facor Steels Ltd. has declared a lock-out in its mini steel plant located at MIDC Industrial Estate, Hingna, Road Nagpur, with effect from January 7, 2013. The lock-out has been declared due to economic reasons with the support of staff and workers of the company as operating the plant at low order position was resulting into heavy losses for the company. The lock-out will be applicable to all workmen and staff members except to certain essential staff & workmen of the company.

It is perhaps rare occasion, where all the workers and staff of the company have given their full support to the management to declare lock-out for closing down the production activities in the absence of adequate production orders with a noble intent to save the losses that the company would suffer by keeping its operations continued. Efforts are being made by the company to streamline its operations and all necessary steps are being taken to adequately protect Interest of all stakeholders.