December 01, 2023 (MLN): Pak Suzuki Motor Company Limited (PSX: PSMC) has decided to shut down its motorcycle plant from December 01 to December 06, 2023, the company’s latest filing on PSX revealed.

The company has taken this decision based on current levels of sales demand and to optimize the inventory of finished goods.

However, its automobile plant will remain operative, it said.

PSMC is engaged in the assembling, progressive manufacturing, and marketing of Suzuki cars, pickups, vans, 4x4s, motorcycles, and related spare parts.

To note, on October 12, the Board of Directors (BoD) of PSMC considered the majority shareholder's intent to purchase all outstanding shares of PSMC held by other shareholders and delist the company.

On October 19, the BoD resolved to delist the company from the Pakistan Stock Exchange (PSX).

Copyright Mettis Link News

Posted on: 2023-12-01T10:23:38+05:00