BWHL extends closure of production activity

MG News | December 23, 2022 at 02:05 PM GMT+05:00

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December 23, 2022 (MLN): Baluchistan Wheels Limited (BWHL) has extended date for the closure of production activity till December 30, 2022 due to depressed demand of autos in market, BWHL issues notice to PSX on Friday.

To recall on 9th December 2022, the company has decided to temporarily close or stop the production activity from December 12, 2022, till December 23, 2022 due to depressed demand of autos in the market.

In present, the company is facing a drop-in sales order from the Original Equipment Manufacturer (OEMs).

Therefore, the board decided to stop production till December 30, 2022.

To note, the BWHL is engaged in manufacturing and marketing of automotive wheel rims for trucks, buses, tractors, cars and mini commercial vehicles.

At the time of writing, the scrip of the company is being traded at Rs71.72, which is increased by Rs4.48 or 6.66% DoD.

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