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Crescent Fibres Limited has announced the temporary suspension of operations at its Nooriabad spinning unit due to unfavourable market conditions. The company conveyed this update to the Pakistan Stock Exchange (PSX) under Section 96 of the Securities Act, 2015, and Clause 5.6.1(a) of PSX Regulations.
According to the official statement, the company operates two spinning units. One is located in Nooriabad, Sindh, and another in Bhikki, Punjab. The management decided to suspend operations at the Nooriabad unit temporarily, while the Bhikki unit continues to function as usual.
The company further stated that it is actively evaluating various strategic alternatives to resume normal operations and restore profitability.
Crescent Fibres Limited assured that management remains focused on navigating current market challenges effectively and ensuring operational stability in the long term.
