Agriauto Industries to Observe Partial Shutdown in July

Agriauto Industries Limited announced on Monday that it will be observing a partial shutdown during the ongoing month. In a notice to Pakistan Stock Exchange (PSX), the company said that due to a reduction in production volumes of its major customers, it will be observing a partial shutdown during the month of July 2023. “Agriauto Stamping Company Pvt. Ltd., the wholly owned subsidiary of the company will also obverse partial shutdown in July 2023 owing to the reason stated above,” the notice added. It is pertinent to mention here that the company has been observing a partial shutdown since February. July would be the sixth consecutive month where the company will observe a partial shutdown. Agriauto is engaged in the manufacture and sale of components for automotive vehicles, motorcycles and agricultural tractors.