Diamond Industries Limited said Friday it intends to restart commercial operations with financial and operational support from its directors, sponsors, and associated undertakings.
The company told the Pakistan Stock Exchange that it had suspended manufacturing on Jan. 10, 2023, due to adverse economic conditions and a shortage of imported raw materials.
According to the disclosure, the board has approved resuming business by leasing factory premises in Lahore, equipped with plant and machinery, to regain market share in the interest of minority shareholders.
The company added that the move will help reduce transportation costs for delivering foam products to dealers nationwide.
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