Volvo Buses to Close Plant in Germany (2005-6-15)

Volvo Buses said today it will close its factory in Heilbronn, Germany, and lay off 150 workers there.

The Swedish bus maker said it can no longer accept the losses at the plant, which manufactures the Volvo 9900 model.

"We sell about 100 buses a year from the factory, and that\’s not enough to make a profit," Volvo spokesman Per-Martin Johansson said.

The company said the closure would lead to a 95 million kronor (euro10 million; US$12 million) charge in the second quarter.

The last Volvo bus will roll out from Heilbronn in September, Johansson said.

(Source: yahoo.com)