Nissan shuts down factories in Indonesia, Barcelona

Japanese automobile major Nissan Motor Co unveiled a global four-year plan that involves reducing capacity by 20 per cent by shutting down factories in Indonesia and Barcelona and withdrawing from markets like South Korea as it attempts to slim down and turn sustainably profitable.

The company did not make any announcement on its struggling India operations but dropped enough hints that it could be under serious scrutiny. 

The company's operations in the ASEAN region will see substantial changes as part of the plan. Nissan would shut down its factory in Indonesia and rely on Thailand as its sole production base while it will also exit the South Korean market.

More restructuring is on the anvil. Desk: Asianet Online