PARIS, Nov 23 (Reuters) - French plastic processing group Plastic Omnium is to cut its German output by halting the production of auto bumpers, which employs 200 staff, the company said on Friday.
Blaming a shrinking car market in Europe and automakers’ own strategic decisions, Plastic Omnium said it had begun talks with staff representatives to cut bumpers from its Eisenach-Thuringia factory, which also makes fuel tanks and systems.
Majority held by the wealthy Burelle family, Plastic Omnium has been offsetting economic headwinds in Europe by developing production in the Americas, China and India. It has a market capitalisation of 1.1 billion euros ($1.4 billion).
$1 = 0.7761 euros Reporting by Lionel Laurent; Editing by Mark Potter