Russian Auto Maker Suspends Production: Russia’s ZIL...
From Times Staff and Wire Reports
Russian Auto Maker Suspends Production: Russia’s ZIL car plant said it is sending more than 60,000 workers on forced leave for one week, after non-payments by clients forced the auto maker to halt its main production line. The layoffs were also aimed at fending off possible financial threats to its joint venture with Caterpillar Inc., which assembles ZIL trucks with U.S.-made engines, a factory spokesman said. ZIL officials said the Russian company needs an immediate cash injection of at least $17 million to stay afloat.
