Indus Motor Company Limited (PSX: INDU), the sole distributor of Toyota vehicles in Pakistan, has announced a temporary shutdown of its production plant due to ongoing supply chain challenges.
The company will halt operations from August 6, 2024, to August 8, 2024, as per a notice issued to the Pakistan Stock Exchange (PSX) on Monday.
The auto assembler cited a low inventory of raw materials and components, coupled with continuous supply chain disruptions, as the primary reasons for the shutdown. These issues have led to significant shortages of parts and components necessary for vehicle manufacturing.
“Under these circumstances, the Company is unable to meet its production requirements. Therefore, the Company has decided to temporarily close its Production Plant from August 6, 2024, to August 8, 2024, inclusive of both dates,” the notice stated.
This marks the second plant shutdown by Indus Motor Company in the past month. Previously, the company announced an eight-day shutdown from July 15, 2024, to July 22, 2024, due to similar supply chain issues.
The ongoing supply chain challenges have significantly impacted its production capabilities, prompting these temporary closures.
INDU’S scrip at the bourse was closed at Rs. 1,680, down by Rs. 33.92 or -1.98%, with a turnover of 10,515 shares on Monday.
