Crescent Fibres Limited (PSX: CFL) has announced the temporary suspension of operations at its Nooriabad spinning unit in Sindh due to unfavourable market conditions.
In a filing to the Pakistan Stock Exchange, the company stated that it operates two spinning units — one in Nooriabad and another in Bhikki, Punjab.
While the Nooriabad facility will remain closed temporarily, the Bhikki unit continues normal operations.
The management said it is currently evaluating various strategic alternatives to resume operations and restore profitability once market conditions improve.
The principal business of the Company is the manufacture and sale of yarn.
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