The board of directors of Aziz Pipes, which is listed in the engineering sector, has decided to stop production due to raw material complexity.
The company has stopped production since Sunday (January 10). However, it has not been announced when production will resume.
Dhaka Stock Exchange (DSE) sources said on Monday (January 11).
According to the data, in the current Corona situation, the supply of PVC resin, the main raw material for making pipes for the company, has stopped. The lack of adequate PVC resin is hurting the company’s production. The cost of production has risen more than the current market price due to the abnormal rise in the price of raw materials in the local market. As a result, the company is struggling to market its products. So the company has decided to stop production of temporary C-shifts from Sunday.
The company further said that production will resume once the supply of PVC resin resumes and the situation improves.
