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Baluchistan Wheels Stops Production Activities Until 31 August
Baluchistan Wheels Limited (PSX: BWHL) has decided to temporarily stop production activities till 31 August, 2023, the company informed the Pakistan Stock Exchange on Thursday.
“Due to the reduction in production volumes of our major customers/OEMs, the company is facing drop in its sales orders. Therefore, the management of the Company has decided to temporar[il]y close/stop the production activities on account of non-production days from Friday, August 18, 2023 to Thursday, August 31, 2023,” the filing stated.
The production activities of the company will resume on Friday, September 01, 2023,” it added.
This is the third time since April 2023 that the auto parts manufacturer has paused all production activities due to low demand.
BWHL is engaged in the manufacturing and marketing of automotive wheel rims for trucks, buses, tractors, cars, and mini-commercial vehicles.
The company’s scrip at the bourse closed at Rs. 145.89, up 1.19 percent or Rs. 1.71 on Thursday.
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