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Nissan to close Indonesia, Spain auto plants after losses

Nissan to close Indonesia, Spain auto plants after losses

Nissan Motor Co said on Thursday it would slash its production capacity by a fifth, and close auto plants in Spain and Indonesia to help reduce its fixed costs by $2.8 billion, as it looks to become a smaller, more cost-efficient automaker following a slide in sales. The announcement came after Nissan posted an operating loss of $376 million for the year ended March, its first loss in 11 years.

Kathy
Kathy
Top in Business