Ford to suspend production lines at two Turkish automotive plants
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Oluşturulma Tarihi: Ekim 20, 2008 12:27
Ford Otosan, a Turkish subsidiary of the U.S. automotive giant, will suspend the production line at two plants due to a lack of demand, the company announced in a statement issued to the Istanbul Stock Exchange late Friday.
"Our company decided to halt the vehicle production line at the Kocaeli and Inonu factories from Oct. 25, 2008 until 10:00 pm (GMT 1900) on Nov. 2, because of the decline in demands froms domestic and foreign markets due to the negative developments in global markets," the statement said.The other departments aside from production would continue to operate during this period, the statement also said. Turkey's largest conglomerate Koc Group owns 41 percent, as does the Ford Motor Co, with the remainder of the company held in public shares.Tofas Turk, another major automotive producer in which Koc Group owns a 37 percent stake had also slowed production in September. However, a Tofas official told HotNewsTurkey that there was no such move planned for the coming period.