Volkswagen readies to suspend production in Europe
Production at the rest of the European plants will also be halted for two to three weeks, VW said. The company aims to curb the spread of the coronavirus outbreak by the move.
“Given the present significant deterioration in the sales situation and heightened uncertainty regarding parts supplies to our plants, production is to be suspended in the near future at factories operated by group brands,” the Chief Executive Herbert Diess said on Tuesday, according to media sources.
Several countries in Europe have been facing lockdowns as part of their efforts to combat with COVID-19 pandemic recently, which led to visible disruptions in logistics and consumption.
More free plastics newsPlastic resin (PP, LDPE, LLDPE ,HDPE, PVC, GPS; HIPS, PET, ABS) prices, polymer market trends, and more...
- Saudi PP, PE markets reverse course in Feb after 8 months, maintenance schedule busy in Mid-East
- Freight carriers aim to manage supply-demand balance by blanking more sailings
- PP and PE markets set to rebound from two-year lows in Europe
- PET sellers hunt for signs of market bottom in Europe
- India’s import PP, PE markets rebound in Jan after several months of declines
- Tight supplies keep Asian PVC markets bullish
- Crude oil market sentiment turns in favour of bulls
- Will European PVC take a breather from 9-month downtrend in February?
- Supply limitations bolster Feb PP and PE outlook in Turkey
- China’s import PP markets climb to 6-month highs prior to Lunar New Year