19 June 2008 18:38 [Source: ICIS news]
HOUSTON (ICIS news)--Toyota shares fell on Thursday following news reports that the company said it was cutting production at three US plants amid a slump in large vehicle sales.
Automobiles are an important chemical end market, in that each has an average of $2,200 (€1,408) worth of chemistry, according to the American Chemistry Council (ACC). Automobile parts include rubber hoses, plastic dashboards, catalysts, fibres, adhesives and coatings.
A plant at
An engine plant in Alabama will close for five days by the start of August, according to reports.
Meanwhile, Ford announced this week that it has entered an agreement to export more than 30,000 North American-built vehicles to
($1 = €0.64)
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