Hurriyet Daily News Online
Oluşturulma Tarihi: Aralık 18, 2008 11:04
Ford Otosan, a Turkish subsidiary of the U.S. automotive giant, will suspend the production line at two plants for more than three weeks due to a slumping demand at home and abroad, the company said on Thursday.
Ford Otosan said in a statement it would halt production between Dec. 20, 2008 and Jan. 12, 2009 in its Kocaeli and Inonu factories.
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The company had also halted the production between Oct. 25-Nov. 2 citing a decline in demand from both the domestic and foreign markets due to the negative developments in global markets.
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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.
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The Turkish automotive sector has enjoyed strong growth in recent years, but in November alone vehicle production halved to 59,082 units. Production of passenger cars fell by 54 percent in November.
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Turkey is a leading exporter of vehicles mainly catering to the European Union. It manufactures Ford, Renault, Toyota and Hyundai models.
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