BRIEF-Seair announces default on senior debt
* Seair Inc - defaulted on terms of its senior debt senior debt and is currently in negotiations with its creditors to develop a restructuring plan
BERLIN Jan 30 Volkswagen plans further temporary halts in production of the Passat saloon car in Germany in the coming weeks as a result of the weak European market.
Europe's biggest car maker will halt assembly lines at the plant in Emden on Feb. 8, Feb. 15, Feb. 22 and March 1, a spokesman told Reuters, tying in with an extended Christmas shutdown in December at the site which employs 7,600 workers
"We'll keep monitoring the market situation in Europe very closely," spokesman Georg Goericke said, declining to comment on whether the car maker was bracing for another round of disruptions in March and April.
VW makes about 1,200 vehicles a day at Emden, where workers assemble the Passat saloon, the Passat estate and the CC coupe. The company already halted production there between Dec. 17-21, 2012.
Conversely, VW said a week earlier that it would add three Saturday shifts to its main Wolfsburg manufacturing plant to meet excess demand for the new version of its Golf hatchback and for the Tiguan compact SUV.
The additional shifts will enable VW to build an extra 2,000 Golfs, helping to fill roughly 100,000 orders for the top-selling model from Europe. (Reporting by Andreas Cremer; Editing by Greg Mahlich)
* Sets regular quarterly dividend of $0.2425 per share Source text for Eikon: Further company coverage:
Feb 24 Citigroup Inc on Friday said that U.S. government and regulatory agencies are investigating the bank's hiring practices.