Volvo production halted for a week as demand drops October 15, 2012 - 18:52 AMT PanARMENIAN.Net - 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, AP said. The Goteborg-based carmaker says Monday, October 15 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. Partner news  Top stories Dwelling on Armenian government’s lawsuit against the airline company, Andranik Shkhyan said the airport is ready to join the initiative. Zvartnots airport will host a press conference on May 24 on the operation of Tel Aviv-Yerevan- Tel Aviv flights. “The increase for energy tariffs is prompted by a price hike for gas used in production,” Garegin Baghramyan said. Earlier, ArmRosgazprom CJSC addressed Armenia’s Public Services Regulatory Commission with an offer to reconsider natural gas prices.   Partner news |  Latest news Israeli security expert says Syrian hacker attack foiled  Israel refuses to comment on the strike but officials at the time said Iranian missiles set for Hezbollah were hit.Gyumri to host Europe Day celebrations The celebrations will feature a small information fair, with EU project representatives to brief the visitors on the initiatives launched.1st Armenian interactive fairy tale available for iPhone/iPod Touch The tale sparked great interest in Diaspora. Such projects, namely interactive version of “Alice in Wonderland”, are popular abroad.Expert says Russian FM’s remarks in context of Madrid Principles No decisive developments will follow the meeting between Russian and Azerbaijani foreign ministers, David Jamalyan said. |
