Agriauto Industries Limited (PSX: AGIL) has announced a partial shutdown amid reduced production volumes of its major customers, the company informed the Pakistan Stock Exchange (PSX) on Friday.
“Due to reduction in production volumes of our major customers, the Company will be observing partial shutdown during the month of December 2023,” the filing stated.
Agriauto Stamping Company Private Limited, the wholly-owned subsidiary of the Company will also observe partial shutdown in December 2023 owing to the reasons stated above, the filing added.
It is pertinent to mention here that the company has been observing extended periods of partial shutdowns since February 2023.
Agriauto is engaged in the manufacture and sale of components for automotive vehicles, motorcycles, and agricultural tractors.