Pirelli to cease production in Venezuela indefinitely
Pirelli is suspending its production in Venezuela indefinitely from next week on the scarcity of raw materials, according to BBC.
Pirelli is the latest foreign company to suspend its operations in Venezuela amidst a severe economic crisis, reported BBC. The company will cease production at its Guacara plant in Carabobo state from 16 June after 26 years in business in Venezuela.
Citing a statement, BBC reported that Pirelli of Venezuela said it would do everything possible to continue supplying the country with tyres.The Venezuela division of the Italian-based tyre maker had halted production once before for two weeks last January, but this time it said the suspension was indefinite.