Karachi October 18 2023: Honda Atlas Cars (Pakistan) Limited shut its plant for a period of eight days starting from October 24th 2023 due to inventory shortages, according to company filing to the exchange.
Share price of the company fall PKR 3.93 or 2.94 percent (PST 15:12) at Pakistan Stock Exchange in today's trading session.
"The current level of inventory and parts shortages of the company's supply chain has been severely disrupted. As a result, the Company is not in position to continue with its production and, resultantly, will shut down its plant from October 24, 2023 to October 31, 2023" states the company in its filing.
Honda Atlas Cars (Pakistan) Limited is a public company limited by shares incorporated in Pakistan on November 4, 1992 under the repealed Companies Ordinance, 1984 (now, the Companies Act, 2017). It is a subsidiary of Honda Motor Co., Ltd., Japan. The Company’s principal activities are assembling and progressive manufacturing and sale of Honda vehicles and spare parts. The Company commenced commercial production from July 1994.