Iveco suspends production in Venezuela over currency crisis
'Import costs unsustainable' says Italian truck maker
02 April, 16:48
(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.
