Anadolu Isuzu halts production
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Oluşturulma Tarihi: Temmuz 09, 2009 00:00
ISTANBUL - Anadolu Isuzu, the Turkish maker of trucks and buses for Isuzu Motors Ltd., which operates under Yazıcılar Holding, announced it has decided to halt production until July 20.
In a statement filed with the Istanbul Stock Exchange, the company said the stagnation in the domestic and global markets was the reason behind the move. Demand did not revive as much as it was expected, the company said in a statement. Anadolu Isuzu is 35.71 percent owned by Yazıcılar Holding, and 16.99 percent owned by Isuzu Motors.
Özilhan Sınari Yatırım owns 16.81 percent of the company, while Itochu owns 9.46 percent. Anadolu Isuzu’s sales revenue declined 81.6 to 28 million Turkish Liras during the first six months of the year. The company’s domestic sales dropped 76 percent to 27 million liras, while its global sales declined to 6.7 million liras from 48.7 million. Anadolu Isuzu produced 2,694 vehicles during the first quarter of 2008. That figure deteriorated to 426 during the same period of this year.
Özilhan Sınari Yatırım owns 16.81 percent of the company, while Itochu owns 9.46 percent. Anadolu Isuzu’s sales revenue declined 81.6 to 28 million Turkish Liras during the first six months of the year. The company’s domestic sales dropped 76 percent to 27 million liras, while its global sales declined to 6.7 million liras from 48.7 million. Anadolu Isuzu produced 2,694 vehicles during the first quarter of 2008. That figure deteriorated to 426 during the same period of this year.