Sunday, July 21, 2024

Diamond Industries Limited has suspended its Manufacturing on Material shortage

Diamond Industries Limited (PSX: DIIL) has suspended its manufacturing operations till further notice. In a stock filing, DIIL said it has suspended its manufacturing operations for a short term with effect from Tuesday, January 10th, 2023, till further notice, subject to the availability of imported raw material in the country. The company has cited adverse economic conditions and the non-availability of imported raw materials as the reasons for today’s moratorium.

DIIL was incorporated in 1984 as a private limited company on June 18, 1989, in the name of Diamond Industries (Pvt.) Limited. The principal activity of the company is to manufacture and sell foam products and PVA products consumed in the industry and domestically.

The company’s scrip at the bourse closed at Rs. 38.50, down 0.18 percent or Rs. 0.07 on Tuesday.

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