New Delhi :The Hindustan Machine Tools (HMT) factory which closed down on January 7 opened for a very brief period of time on January 8 to complete a pending order of 5,500 watches within three months.
After this order the factory will shut down permanently. The order is estimated to be worth Rs 1.5 crore.
The once-revered HMT watches today remains a cash-strapped, loss-making factory in Ranibagh, Nainital, which closed two years ago.
It ruled the Indian market for nearly three decades since the nation’s independence and had more than 400 models in its portfolio.
The company once at its peak saw downfall for the first time in 80s after the arrival of Quartz watches and later liberalisation.
The iconic brand of the sixties, unfortunately, could not keep pace with current times and the intense global competition but its memories will always stay with those who have trusted the company.