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HEC pares losses by 48 per cent

Our Bureau

KOLKATA, April 2

HEAVY Engineering Corporation (HEC) has pared its losses by 48 per cent in 2001-02. Sales increased by 12 per cent to touch Rs 138 crore.

A company statement claimed that HEC had achieved an eight per cent increase in production worth Rs 159 crore with one-third of its earlier manpower.

During 2001-02, HEC manufactured rocket launching pad equipment, besides making unique cranes for assembly and positioning of the rocket. It also made cyclotron magnet for the Department of Atomic Energy. According to the statement, by adding the cyclotron magnet to its product-mix, the company has joined the league of select countries that can make this precision equipment.

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