Foam manufacturer Diamond Industries Limited (PSX: DIIL) Friday announced resumption of commercial operations after a gap of nearly three years.
In a notice to the Pakistan Stock Exchange (PSX), DIIL highlighted that due to adverse economic conditions in the country and unavailability of imported raw materials during the financial year 2023, the company suspended its manufacturing activities on January 10, 2023.
The company now intends to resume commercial operations with full financial and operational support from its Directors, Sponsors, and Associated undertakings.
The Board of Directors intends to resume business operations of the company by leasing factory premises with plant and machineries in Lahore to capture its market share in the interest of minority shareholders.
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This will significantly reduce the transportation cost to deliver the goods to the foam dealers in all over the country, it said.
