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Indiaexportnews.com

Railway carriage factory halted production

  25.05.2009    

Due to the global downturn, Serbia's Kraljevo railway carriage factory has temporarily halted production in order to cut costs, msn reports referring to Serbian sources. 
Factory management said that nearly 800 of FVK's 950 staff had been put on paid leave "to reduce expenses to a minimum" and that almost all of production would be halted over the next two months. Wages have not been paid to employees since January.
The FVK factory was bought in 2006 by Ukraine's Industrial Union of Donbass, which said it would invest EUR 6m in production and put in place a social welfare programme.



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