Porto Alegre, Brazil, 25 Aug – Brazilian group Marcopolo has announced the closure of its bus factory operating in the Portuguese city of Coimbra since 1990, but gave assurances that it would still provide technical assistance and after sales services.
In a statement filed with the Brazilian stock market regulator, CVM, the group gave no reason for its closure, but it was recently made public that the Coimbra factory had only produced 54 vehicles in the first half of the year, as compared with 90 in the year on year period.
Last week, the group had said it may close the factory in Portugal, the group’s first outside Brazil, as in January it closed a unit in Russia due to a fall in demand, which increased due to the international financial crisis.
From now on, Europe will be supplied from Brazil and, later, from a recently opened factory in Egypt, a country which has trade agreements with the European Union. (macauhub)