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Shutdown - S.Korea - Ssangyong seeks to reduce inventory
SEOUL,S.Korea -Reuters -Dec 06, 2005: -- South Korean SUV maker Ssangyong Motor Co. said it may temporarily shut production to reduce inventories. Ssangyong has seen its domestic sales... Investors are also worried about a possible conflict between Ssangyong's Chinese owner, Shanghai Automotive Industry Corp. (SAIC), and the labor unions after SAIC abruptly replaced a co-chief executive last month, citing poor first-half results... Ssangyong sold 14,017 vehicles in November, up 18 percent from a year ago, but its sales in South Korea grew only 2 percent... A Ssangyong spokesman said the union had responded negatively in initial talks with the company on a possible production shutdown. Under South Korean law, union agreement is required to completely halt operations...
posted by Unknown @ 10:21 AM
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