Sep 25, 2013, 09.00 AM IST
The move to stop production at its Zaragoza factory in northern Spain, would impact all 287 employees.
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Tata Motors unit to stop production at Spanish plant
The move to stop production at its Zaragoza factory in northern Spain, would impact all 287 employees.
Like this story, share it with millions of investors on M3
Tata Motors unit to stop production at Spanish plant
The move to stop production at its Zaragoza factory in northern Spain, would impact all 287 employees.
Tata Hispano Motors Carrocera said the move to stop production at its Zaragoza factory in northern Spain, would impact all 287 employees, adding it had accumulated operating losses of 60 million euros in the past five years.
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"The decision to cease the activity...has been compelled due to economic and business factors, as despite strong investments, there has not been a positive result to reverse the challenging business situation and losses for the plant," the company said in a statement.
Tata Hispano Motors Carrocera also said it was pursuing an offer from Spain's Benseny Group to explore the possibility of continuing operations at the factory. It did not say what the offer was for, but said it was not a purchase offer.
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