Zen Tech reports fire accident at production centre of Unistring Tech Solutions
As informed by the Dr. Nagendra Babu Samineni, Managing Director of UTS, fire tenders were called immediately and the fire has been brought under control. No injuries have been reported.
As per the preliminary assessment, two testing chambers, along with the equipment under test, have been damaged. As per the preliminary assessment undertaken by the management of UTS, the estimated loss is up to a sum of Rs 4 crore. The actual loss will be ascertained on completion of the detailed assessment. The damaged assets are covered by insurance and the insurer has been informed. The claim will be pursued in accordance with the terms of the applicable policy. The cause of the fire is under investigation.
UTS is putting in place alternative arrangements for testing and for the affected material. Based on management's present assessment, the incident is expected to have minimal impact on the operations of UTS.