Iveco Shuts Down Austrian Factory

IndustrialsAutomotive ♦ Published: July 2, 2012; 19:34 ♦ (Vindobona)

Fiat´s Subsidiary Iveco plans to close five factories in Europe. In total, 1,075 workers will be laid off. In Austria, 110 workers are affected.

Iveco Shuts Down Austrian Factory / Picture: © Iveco

The truck producer Iveco, which is wholly owned by the Italian Fiat Group, resolved a radical downsizing program. In Europe, five factories should be shut down. This was announced by Iveco´s CEO Alfredo Altavilla today. Until the end of 2012, the downsizing program should be completed.

„The closures are a painful decision, which should strengthen the enterprise, though. We did…