The Telegram - News - Canada - World - Business

Article

Print
Send to a friend
Comment (0)

Volvo Cars temporarily halts production in Swedish plant for 1 week due to slipping demand

Published on October 15, 2012; Published on October 15, 2012

Topics :: Volvo Car Corporation , Geely Holding Group , Europe , STOCKHOLM , China

STOCKHOLM - Volvo Cars, owned by China's Geely Holding Group, has decided to temporarily halt production at its main Swedish plant for one week as demand in the automotive market continues to slip in recession-hit Europe.

The Goteborg-based carmaker says Monday the production halt will affect some 3,300 employees and will last from Oct. 29 to Nov. 2. The workers will be compensated through a variation of paid leaves.

Volvo Cars' CFO and Acting President, Jan Gurander, says "Europe is the main market for Volvo Car Corporation and the continued recession is naturally affecting the demand."

On Oct. 1, the company decided to slow the production pace of the Torslanda plant, from 57 cars an hour to 50 cars.

Volvo Cars has a global workforce of around 22,000.

©

Rate
Top of the page

Submit a comment

Submit a comment Your name* Email* (we keep all emails private) Write your comment here*

Agreement

We ask that users remain courteous. You may not post insulting, discriminatory or inappropriate content, which may be removed at our discretion. We are not responsible for user content and opinions. Use of this site as well as content submission & ownership are governed by our Conditions of Use and Privacy Policy.

Member organizations should be non-profit in nature, and promote legal activities. Any organization found promoting illegal activities or commercial products or services will be deleted from the site.

I agree with these conditions.