Nissan Closes Egypt Plant After Political Protests
Stock Chart for Nissan Motor Co Ltd (7201)
Nissan Motor Co., Japan’s second- largest automaker, said it closed its factory in Egypt until Feb. 3 following anti-government demonstrations in the North African nation.
“We decided to close our assembly plant in Egypt due to the unstable political situation,” Nissan spokesman Mitsuru Yonekawa said by phone today. The factory stopped production yesterday, he said.
The automaker has asked four employees at the factory to return to Japan, he said. The plant in Egypt produced 10,000 autos last year, including X-Trail sport-utility vehicles and Sunny compact cars, the company said. Yokohama-based Nissan plans to make up for the production delay at the factory once the political situation stabilizes, Yonekawa said.
Honda Motor Co. spokeswoman Kumiko Hashimoto in Tokyo said the automaker has no factories, affiliated units or employees working in Egypt.
Toyota Motor Corp. halted employees from traveling to Egypt on business trips following a safety alert from Japan’s foreign ministry, spokeswoman Shiori Hashimoto said by phone today. Toyota also has no employees or subsidiaries in Egypt, she said.
Nissan fell 2.5 percent in Tokyo to 828 yen as of 2:08 p.m. The stock has risen 7 percent in 2011.
To contact the reporter on this story: Masatsugu Horie in Osaka at firstname.lastname@example.org
To contact the editor responsible for this story: Kae Inoue at email@example.com
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.