Wistron violence: Losses revised to Rs 26-52 cr from Rs 437 cr

PTI, Dec 16, 2020, 4:33 PM IST

Bengaluru: In a significant development, Wistron Corporation, a contract manufacturer for Apple Inc, has revised the project losses, suffered due to violence perpetrated by a section of workers, from Rs 437 crore to Rs 26-52 crore.

The company, in its complaint filed at Kolar station, had stated that as per preliminary estimates office equipment, mobile phones, production machinery and related equipment worth Rs 437 crore were lost in the violence that took place at its Narasapura plant over salary issueson Saturday.

However, on Tuesday, the company in a filing with the Taiwanese stock exchange said that the losses were in the range of NTD 100 to 200 million (Rs 26,13,43,509.70 – Rs 52,26,87,019.40).

“The company is assessing the extent of the damages in various areas of the facility’s campus. The violence did not cause material damage to major manufacturing equipment and warehouses, with preliminary estimates of damages in the range of NTD 100 to 200 million. Wistron is working with related government authorities and police officials regarding investigation of this incident as well as negotiating with insurance companies,” the statement read.