Toyota closes its car assembly plant in St. Petersburg, Trend reports with reference to TASS.
The company will fulfill all obligations to employees and provide compensation payments, they noted.
"Toyota Motor Company closes the assembly site in St. Petersburg. At the same time, it will ensure the fulfillment of all social obligations to the team, as well as significant additional compensation payments. In addition, the company will retain after-sales service for Toyota and Lexus vehicles and support for the dealer network," the ministry said.
The Industry and Trade Ministry together with the government of St. Petersburg, is working on possible scenarios for the development of this production site.
In March, Toyota suspended the operation of its plant in St. Petersburg due to disruptions with supply of components. The Toyota Motor plant in St. Petersburg was opened in 2007.