HCAR forced to shut down production amid supply chain disruption
MG News | October 18, 2023 at 03:22 PM GMT+05:00
October 18, 2023 (MLN): Honda Atlas Cars (Pakistan) Limited (PSX: HCAR) will be shutting down its plant from October 24, 2023, to October 31, 2023, the company's filing on local bourse revealed today.
In a notice sent to PSX today, the company stated that the current level of inventory and parts of the company's supply chain have been severely affected.
As a result, HCAR will have to observe a partial shutdown.
"In case of any change in plan will be updated accordingly," the notice further reads.
The company’s principal activities are assembling and progressive manufacturing and sale of Honda vehicles and spare parts.
At the time of writing, the company's share is being traded at Rs.156.50, down by 4.68 rupees or 2.9% DoD.
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