Small and tiny foundries in Coimbatore district have decided to increase the price of castings by 10% with immediate effect.
Coimbatore Tiny and Small Foundry Owners Association president A. Sivashanmuga Kumar said in a press release that this was decided at a recent general meeting of the association held in Coimbatore city. The price of raw materials for foundries has increased by 20%, and the prices of allied materials have gone up by 20% to 40%. This has hit the foundries hard, hence the price hike.
