BELGRADE (Serbia), March 23 (SeeNews) - U.S.-based Cooper Tire & Rubber Company will temporarily shut down its tyre manufacturing plant in Serbia in response to the drop in market demand resulting from the coronavirus pandemic, it said on Monday.
The process of phasing down production at the two plants of the company in Europe, which are located in Melksham, England and Krusevac, central Serbia, will begin over the coming days, and each facility is expected to be closed for at least three weeks, Cooper Tire & Rubber Company said in a statement.
Earlier, the company announced the temporary closure of its plants in the Americas. Its plants in China, which reopened several weeks ago, have continued to ramp up production and will remain in operation.
The company is closely monitoring supply chain and product inventory levels globally and will continue to operate distribution centres worldwide until further notice to meet customer needs, it said.
Cooper Tire & Rubber Company launched its plant in Serbia in March 2012 following investment of approximately 13 million euro ($14 million). The plant currently produces tyres primarily for Europe and other global markets
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