'Import costs unsustainable' says Italian truck maker
(ANSA)
- Turin, April 2 - The currency crisis in Venezuela is forcing
Italian truck and industrial vehicles maker Iveco to suspend
production there after 60 years, the company said Wednesday. The
company, which is owned by Turin-based CNH Industrial, cited
difficulties in importing key components and materials, a factor
which has hit industries across the country. "It is Iveco's
intention to resume manufacturing at La Victoria when market
conditions improve and stabilise," it added, insisting it was
committed to the Venezuelan market, and will continue providing parts
and services through its 32 locations nationwide. Iveco Venezuela has
a total labor force of 400 workers and produces a range of trucks and
bus chassis.
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