Nandan Exim Limited has informed the Exchange vide its letter dated May 08, 2008, that: "The Spinning Unit of the Company caught fire at 2 PM at 5th May 2008 and the stock of more than 30000 bales of cotton turned into ash. However, due to quick response of Fire Brigade of Ahmedabad City and Villagers, the entire plant was saved from damage and no casualty has happened. The entire Plant & Machinery and Raw Material are fully insured. The cause of fire is yet to be ascertained and the Company has estimated a loss of approximately Rs.30 crores. However, the assessment of loss and survey from the Insurance Company is under process. Further, the Company has immediately taken step to tie-up with the Cotton Yarn suppliers for uninterrupted raw material supply for the plant and the Company is taking various steps to re-start the Plant at the earliest". The Company has further submitted to the Exchange a copy of the press release, dated May 07, 2008, titled "Nandan Exim to restart Spinning Plant soon". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements).
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