Iveco suspends production in Venezuela over currency crisis
'Import costs unsustainable' says Italian truck maker02 April, 16:48
The company, which is owned by Turin-based CNH Industrial, cited difficulties in importing key components and materials, a factor which has hit industries across the country. "It is Iveco's intention to resume manufacturing at La Victoria when market conditions improve and stabilise," it added, insisting it was committed to the Venezuelan market, and will continue providing parts and services through its 32 locations nationwide. Iveco Venezuela has a total labor force of 400 workers and produces a range of trucks and bus chassis.