Kohinoor Spinning Mills Limited (PSX: KOSM) has made the decision to stop producing in the nation.
According to a stock filing, due to the current global and economic slump, overdue plant maintenance, high cost of production, and low pricing and demand, Kohinoor Spinning Mills would temporarily close/stop production activities at its facility with immediate effect.
In the past week, three publicly traded companies have announced their intention to cease operations. The latest is KOSM.
Due to ullage restrictions brought on by the weak demand for furnace oil, Attock Refinery Limited (PSX: ATRL) informed PSX yesterday that it will be temporarily shutting down its main distillation plant for eight days.
Pakistan Refinery Limited (PRL) stated on Friday that its refinery would be shut down for scheduled maintenance for 20 days.
