Prominent motorcycle manufacturer in Pakistan halts production

WEB DESK: Pak Suzuki Motor Company (PSMC), the assembler of Suzuki cars and motorcycles in Pakistan, has announced the temporary closure of its motorcycle plant from December 1 to December 6, 2023.

This decision, outlined in the company’s latest filing on Pakistan Stock Exchange (PSX), is a response to the current sales demand and aims to optimise the inventory of finished goods.

It’s noteworthy that the automobile plant will continue its operations during this period, as per the company’s statement.

Pak Suzuki Motor Company is actively involved in the assembling, progressive manufacturing, and marketing of Suzuki cars, pickups, vans, 4x4s, motorcycles, and related spare parts.

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In a significant development, the Board of Directors (BoD) of PSMC, during their meeting on October 12, discussed the majority shareholder’s intention to acquire all outstanding shares of PSMC held by other shareholders and subsequently delist the company.

Subsequently, on October 19, the BoD officially resolved to delist Pak Suzuki Motor Company from the Pakistan Stock Exchange (PSX).