Nissan sees cost of quitting Barcelona at up to US$1.7 billion, source says

Nissan Motor Co has estimated the closure of its plants in Barcelona could cost up to around 1.5 billion euros (US$1.7 billion), a union source ...

BARCELONA: Nissan Motor Co has estimated the closure of its plants in Barcelona could cost up to around 1.5 billion euros , a union source told Reuters on Monday.

Barcelona-based La Vanguardia newspaper earlier on Monday cited Nissan documents as saying the closures could cost 1.45 billion euros, mostly to make around 3,000 workers redundant. However, the source, along with another senior union official, said the second estimate was probably unrealistic as that would barely cover redundancy payments to workers, some of whom have been employed for more than 20 years.

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