Lotte Chemical extends plant suspension to November 12

MG News | October 30, 2023 at 11:11 AM GMT+05:00

0:00

October 30, 2023 (MLN): The management of Lotte Chemical Pakistan Limited (PSX: LOTCHEM) has decided to extend the suspension of its Plant operations till 12 November 2023 due to lower downstream demand.

Through this plant closure, the company aims to efficiently manage its inventory and production.

To recall, LOTCHEM issued a notice to PSX on October 17 to suspend plant operations from October 18 to October 29, 2023.

The principal activity of the company is to manufacture and sale of Pure Terephthalic Acid (PTA).

At the time of writing, the company's share is being traded at Rs.25.49, up by 0.32% DoD.

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