World number two truck maker Volvo said on Friday it would close its plant in Asheville, North Carolina, as it sought to scale back excess capacity in the face of the downturn.
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Volvo said in a statement the decision would affect 228 employees at the manufacturing plant for construction equipment and result in a restructuring cost of SKR100m (US$16m), most of which would be booked in the fourth quarter.
The Asheville plant would be closed by 31 March, 2010, according to a Reuters report.
