Prinx Chengshan Subsidiary Halts Tire Production in Thailand Over Regulatory Issues
Reuters
Aug 04
Prinx Chengshan Subsidiary Halts Tire Production in Thailand Over Regulatory Issues
Prinx Chengshan Holdings Limited's wholly-owned subsidiary, Prinx Chengshan Tire (Thailand) Co., Ltd. ("Prinx Thailand"), has received a temporary suspension notice from the Industrial Estate Authority of Thailand. The suspension pertains to its tire production base in Thailand due to issues related to the packaging of carbon black, which allegedly breached industrial waste disposal regulations, and pending acceptance of waste emissions inspection for the expansion production line. As a result, Prinx Thailand has temporarily halted operations at the tire production base. The company is actively engaging with the authorities to resolve the matter and expects to gain more clarity on the duration of the suspension within one to two weeks. The financial impact is currently being assessed, but it is not anticipated to significantly affect the Group's financial condition if the suspension is resolved promptly.
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