CTM to shut weaving division by January 2025

By MG News | January 24, 2025 at 11:05 AM GMT+05:00

0:00

January 24, 2024 (MLN): The Colony Textile Mills Limited (PSX: CTM) has decided to shut down its "Weaving Division" effective from 31st January 2025.

This decision comes considering the multiple prevailing challenges that were described in the company's earlier reports.

The aforementioned information was disseminated through a notification to Exchange.

The management, however, is exploring different sustainable plans for the division and is considering operating the unit either in parts or, should any viable opportunity arise.

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