October 16, 2013 / 6:04 PM / 6 years ago

Toyota plant in Venezuela to shut for two weeks -official

CARACAS, Oct 16 (Reuters) - Toyota Motor Corp will shut its plant in Venezuela for two weeks later this month because delays getting dollars from the state currency board have created a shortage of materials, a senior company official said on Wednesday.

President Nicolas Maduro’s government is seeking to get more dollars to businesses, especially importers, amid shortages which are widely blamed on bureaucracy at the currency board, Cadivi, and a decade of foreign exchange controls.

“There is a planned stoppage from Oct. 28 until Nov. 11 because we’ve had quite a lot of delays with Cadivi,” said the official, who asked not to be identified, adding that the plant would produce 450 fewer cars because of the move.

According to Venezuela’s national organization of automakers, Cavenez, car production in the country decreased by just over 30 percent in the first nine months of this year from the same period in 2012.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below