The Traderszone Network

Published in TZ Latest News 6 January, 2016 by The TZ Newswire Staff

Mitsubishi to close U.S. auto plant after failing to find buyer

Mitsubishi Motors (7211.T) said on Thursday it would close its sole production plant in the United States as the Japanese automaker cuts losses on dwindling sales in North America and a strong U.S. dollar, which has stymied returns. Mitsubishi Motors confirmed a report in Japan’s Nikkei newspaper on Thursday, which said that the automaker was unable to find a buyer for its factory in Normal, Illinois, and take on its workers. “We have given up looking for an automaker to buy the plant, but we are looking for possible buyers from other industries,” a Mitsubishi Motors spokesman said.