Azgard 9 shuts down operations after cancellation of export orders by European countries

By MG News | April 29, 2020 at 01:22 PM GMT+05:00

0:00

April 29, 2020 (MLN): Azgard-9 Limited has decided to close the production facility/operations, given the catastrophic and unavoidable situation, at the premises acquired by the company on rent located at Irfan Textiles (Pvt.) limited, Lahore.

The decision was taken after considering the severe financial crunch arising out of the global adverse business situation, coupled with the cancellation/reduction of the export orders by the European and other countries.

The company has announced that the Chief Executive Officer shall take necessary steps/measures to cater to the business requirements of the company in the present scenario or after the situation returning to normalcy as the circumstances may warrant.

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