Honda Atlas extends longest production shutdown till April 15
Honda Atlas has extended its longest production shutdown till April 15!
Honda Atlas Cars Pakistan Ltd, a unit of Japan’s Honda Motor Co Ltd (7267.T), on Thursday, announced a 15-day extension to its longest plant shutdown this fiscal year, citing the country’s economic crisis, restrictions on opening letters of credit for imports, and halting foreign payments.
In a notice to the Pakistan Stock Exchange, the company said: “As a result, the Company is not in a position to continue with its production and ultimately has continued to shut down its plant from April 16, 2023, to April 30, 2023.”
The company announced an initial 23-day shutdown on March 8, which was expected to end on March 31.
Furthermore, Pak Suzuki Motor Company Ltd (PSMC), also announced a 13-day extension to an existing halt in its production of motorcycles.
