Seoyeontop Metal, Suspension of Operations Decision for Seoyeontop Metal Mexico

[Asia Economy Reporter Minji Lee] Seoyeon Top Metal announced on the 30th that it has decided to suspend operations of Seoyeon Top Metal Mexico, which manufactures automotive interior materials. The company explained, "The operating deficit increased due to a decrease in production volume," adding, "Although a decline in sales is inevitable, profitability is expected to improve by restructuring the loss-making business."

Idle company-owned land and buildings will be converted into rental businesses, followed by plans to sell or liquidate the corporation.

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