STOCKHOLM, Sweden (AP) — Volvo plans to close a plant in Finland and reorganize operations at another, which could result in the loss of about 300 jobs, the company said Wednesday.
The Swedish truck and bus maker said the move is aimed at improving competitiveness by concentrating production to other plants where there is spare production capacity.
AB Volvo said it will start talks with employees belonging to the Tampere bus body plant, which it plans to close down. The company did not say when the plant would be closed.
In the Finnish Turku plant, operations will be reorganized so that production of some bus body models are focused on the Nordic markets.
The company also has European bus body plants in Poland and Sweden.
It sold its car division to U.S.-based Ford Motor Co. in 1999.