Indus Motor announces plant closure over inventory shortages

MG News | August 05, 2024 at 03:01 PM GMT+05:00

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August 05, 2024 (MLN): Indus Motor Company Limited (PSX: INDU) has decided to temporarily close its Production Plant from August 6, 2024, to August 8, 2024, inclusive of both dates.

According to a notice issued by the company on PSX today, the decision was made due to low levels of raw material and component inventory, along with ongoing supply chain challenges.

These issues have led to shortages of parts and components necessary for vehicle manufacturing. As a result, the company is unable to meet its production requirements.

At the time of writing, the INDU’s share is being traded at Rs1,694, down by Rs20.59 or 1.2% as compared to its previous close.

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