A massive fire broke out in the production unit of the Waves Factory in Lahore on Friday, causing a loss of millions of rupees.
As reported in the media, the fire broke out at Waves’ production facility – Cools Industries Private Limited – located on Multan Road, Lahore, which is an associated company of Singer Pakistan.
According to the recent stock filing, it was reported that the fire started at the dispatch area and caused damage to the finished goods under dispatch along with some of the production facility and related building area.
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The fire was caused by a short circuit, according to the initial assessment.
It was reported that there was no loss of life and most of the appliance production area remained safe. The assets that were damaged by fire were adequately insured and a survey of the accurate extent of the damage is being carried out by the company.
According to the company, the production of the refrigerators is expected to resume in a few weeks time while that of deep freezers is expected to resume earlier. The supplies to the market are not expected to be substantially affected.
Production facilities of air-conditioners, microwave ovens and washing machines remained unaffected and are continuing un-interruptedly.
Waves owns over 70% of the local market share for Deep Freezers and also has a decent market share for other products like Refrigerators, Air Conditioners, Microwaves and Washing Machines.
3 days old news story?! No wonder why ProPk struggles to grow while the relatively new blogs are thriving.
As you can see the stock filing was filed today. The details are mentioned.
Did those blogs mentioned when the productions of the refrigerators will resume? No
Dear, then why don’t you reflect that in your post title? All I see is reporting of the incident that “Fire at Waves Factory in Lahore Causes Loss of Millions.”
Simply shows poor standard of fire fighting system or may be total absence.
If adequate fire monitoring and fighting system was working nothing to this scale should have happened.
A very common practice in such small factories to save money.
So called Shobaz is fully responsible of not implementing industrial codes in his administered area.
ghr bheta baqwas kr raha hai tu ja kr khud aag bhuja leta chawal insaan