European truck manufacturers join Russian exodus
The Volvo Trucks plant in Russia has suspended work due to the impossibility of importing auto components and parts, Kallanish notes.
In this regard, the main body of the company's employees in Kaluga were sent to idle time with the preservation of wages until further notice. In addition, a group of employees will continue to work to maintain the safety and serviceability of the equipment.
“These measures are necessary in terms of the ability to promptly restore the production cycle of conveyor lines in the event that the Volvo plant in Kaluga resumes the production of trucks,” the press service of Volvo Trucks notes.
Swedish truck manufacturer Scania also stopped deliveries of both vehicles and spare parts to Russia.
In addition, MAN Truck & Bus has decided to stop deliveries of new and used trucks as well as original spare parts to Russia. The company's production in St. Petersburg, which employs about 70 people, has also stopped its work due to supply problems, the press service of MAN Truck and Bus Rus reports.
Earlier, Daimler Truck AG suspended business in Russia until further notice. Nevertheless, Daimler KAMAZ Rus has not stopped its activities in Russia and aims to fulfil its obligations to business partners - in particular, with regard to maintenance of Mercedes-Benz and Fuso trucks.
Since the beginning of the Russian invasion of Ukraine and the new sanctions, more than 20 foreign automotive brands stopped output in Russia.
This week, the Russian government offered foreign companies three scenarios for working in the country. According to first deputy prime minister Andrey Belousov, the first option implies the continuation of work as usual, including maintaining the volume of supplies of components and the full load of enterprises. The second option is the sale of a share in joint ventures to the Russian side. The third scenario is a complete withdrawal from the Russian market, the closure of the enterprise and the dismissal of employees. That will be considered a deliberate bankruptcy.
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Anonymous
Very good overview of the weekly steel market.
Anonymous