Daewoo Motor has been forced to stop work at its three main vehicle plants as parts suppliers will not provide components until they have been paid.
Nissan SA began issuing forced retrenchment notices this week after too few workers applied for the manufacturer’s voluntary separation programme.
Italian manufacturer Fiat SpA has taken major steps to cut costs. Chief executive Roberto Testore has resigned, 6 000 jobs will be cut and factories will be closed.
Nissan SA and the Metalworkers’ Union have begun negotiations about forced retrenchments after too few workers applied for the manufacturer’s voluntary separation packages.
After securing a contract worth R32 million from DaimlerChrysler last week, Pasdec Automotive Technologies have clinched another huge deal. They will manufacturer automotive cable harnesses for Nissan SA at a cost of R21 million a year.
The Road Freight Association will contribute R3 million towards the fight against Aids. The money will be used to implement HIV policies and programmes in the long distance trucking industry.
Avis Rent-A-Car has seen a 10 per cent increase in reservations by foreign travellers for the six months from November 2001 to April 2002 compared to the same period a year ago.
Despite substantial bids for shares in luxury car and boat retail group Forza in the last month, chief executive David McAlpin has denied rumours that a takeover bid could be imminent.
Nissan and the Metalworkers’ Union ended an ongoing dispute over retrenchments at the manufacturer when they signed a new agreement on Tuesday.
US manufacturer Ford is retrenching 630 workers and cutting retirement and health benefits for about 45 000 white-collar workers as it tries to reduce further costs.