FMCG sector giant Britannia is going to close one of its factories opened in 1947 at the time of independence of the country. This historic factory located in Kolkata, West Bengal is the oldest production unit of Britannia Industries Limited. Britannia is known for making biscuits like Marie Gold and Good Day. All the permanent employees working in this factory of the company have taken VRS.

Closing the factory will not have any adverse effect on any employee
Britannia had announced the closure of this factory through exchange filing. This factory, built in 1947, played an important role in taking the company across the country. It is located in Taratala area of ​​Kolkata. The company said that closing the factory will not have any adverse effect on any employee. All the employees have taken Voluntary Retirement Scheme. Also, the closure of this factory will not affect the company's business.

Running the old factory is no longer profitable for Britannia

Many media reports have claimed that running this old factory is no longer financially beneficial for Britannia. This Kolkata-based factory is spread over about 11 acres. Its lease from the Kolkata Port Trust is till 2048. So far, Britannia has not given any information about its plan regarding this land. At present, this land will remain with Britannia for 24 years.

The closure of the factory will not affect the company's revenue

According to the report, the closure of this factory will affect about 150 employees. The company has informed all the stakeholders that the closure of the factory will not affect the company's revenue. On Monday, Britannia shares closed 0.34 per cent lower at Rs 5,311.95 on the BSE.