Ssangyong Motor to halt production for 2 wks
August 6th, 2008 | by admin |SEOUL, Aug 6 (Reuters) - South Korean sport utility vehicle(SUV) maker Ssangyong Motor Co (003620.KS: Quote, Profile, Research, Stock Buzz) said on Wednesday itplans to halt production for almost two weeks to fix paintinglines.
The decision came as its sales face pressure on weakeningdemand for SUVs amid higher oil prices.
Ssangyong, owned by China’s SAIC Motor Corp (600104.SS: Quote, Profile, Research, Stock Buzz), saidin a filing to the Korea Exchange that it would halt productionfrom Aug. 6 to Aug. 14 and would resume it from Aug. 18, after aweekend and holiday break.
Last month, the company said it was mulling suspendingproduction for three weeks to alter production lines for smalland medium-sized sedans. (Reporting by Cheon Jong-woo; Editing by Jonathan Hopfner)
