Bansal Wire Industries Reports Temporary Production Impact Due to Natural Gas Supply Disruption
Bansal Wire Industries Limited, a manufacturer of steel wires, announced a temporary disruption in the supply of natural gas to its manufacturing facilities due to ongoing geopolitical tensions in the West Asian region. The disruption, stemming from a force majeure situation impacting global fuel availability, has affected production activities at the company’s facilities.Communications received from Oil Marketing Companies (OMCs) indicate restrictions in the supply of natural gas, curtailing gas available for heat treatment and annealing processes. As a result, production lines have been partially impacted, with capacity affected by 35% since mid-March.
Bansal Wire Industries management has responded by enhancing the operationalization of electric furnaces and utilizing alternative heating systems. The company is actively working to restore affected production capacity through the deployment of alternative energy sources and coordinating with natural gas distribution partners and authorities.
The company is monitoring the situation closely and working to minimize any adverse effect on financial performance. Further material developments will be reported to the exchanges.
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