IMC notifies two-day production suspension due to component shortage

KARACHI: Indus Motor Company Limited, renowned for its popular Toyota vehicles in Pakistan, has announced a temporary suspension of its production operations.

The company will close its production plant from August 6 to August 8, 2024, inclusive of both dates.

The decision, disclosed in a notice on the Pakistan Stock Exchange (PSX) today, comes in response to challenges related to low inventory levels of raw materials and components.

Ongoing supply chain disruptions have resulted in a shortage of essential parts required for vehicle manufacturing, impeding the company’s ability to meet its production targets.

Founded as a public limited company in December 1989, Indus Motor commenced commercial production in May 1993.

As of the close of trading on Monday, August 5, 2024, the company’s shares (symbol: INDU) were priced at Rs1,680.67, marking a decline of Rs33.92 or 1.98 per cent from the previous close.

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