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Toyota To Cut Production By 40% Amid Chip Crisis

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Toyota To Cut Production By 40% Amid Chip Crisi

 

Toyota is to slash worldwide vehicle production by 40% in September because of the global microchip shortage.

The world’s biggest carmaker had planned to make almost 900,000 cars next month, but has now reduced that to 540,000 vehicles.

Volkswagen, the world’s second-biggest car producer, has warned it may also be forced to cut output further.

The Covid pandemic boosted demand for appliances that use chips, such as phones, TVs and games consoles.

 

On Thursday, German firm Volkswagen, which cut output earlier in the year, told Reuters: “We currently expect supply of chips in the third quarter to be very volatile and tight.

“We can’t rule out further changes to production.”

Toyota’s other rivals, including General Motors, Ford, Nissan, Daimler, BMW and Renault, have already scaled back production in the face of the global chip shortage.

Until now, Toyota had managed to avoid doing the same, with the exception of extending summer shutdowns by a week in France the Czech Republic and Turkey.

New cars often include dozens of microchips but Toyota benefited from having built a larger stockpile of chips – also called semiconductors – as part of a revamp to its business continuity plan, developed in the wake of the Fukushima earthquake and tsunami a decade ago.

The decision to reduce output now has been precipitated by the resurgence of coronavirus cases across Asia hitting supplies.

The company will make some cuts in August at its plants in Japan and elsewhere.

The bulk of the cuts – 360,000 – will come in September and affect factories in Asia and the US.

In the UK, Toyota has a car plant at Burnaston, in Derbyshire, and an engine plant on Deeside. In a statement, it said: “Toyota is going to great lengths to minimise the impact of the semi-conductor supply shortage that is globally impacting the automotive industry.

“In terms of our UK production operations, we are currently operating as planned at both plants.”
The aim for Toyota as a whole is to make up for any lost volume by the end of 2021.

 

 

 

 

 

 

Source: BBC

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Riali Consult scoops ‘Best Travel Company in Ghana 2021’ award

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Riali Consult scoops ‘Best Travel Company in Ghana 2021’ award

Ghanaian travel and tour operator, Riali Consult has won the ‘Best Travel Company in Ghana 2021’ at this year’s International Travel Awards.
In a message announcing Riali as winner, organisers said, “We are happy to inform you that Riali Consult Limited has shown itself as a brilliant representative of the excellent services in the global tourism industry, and after a thorough jury evaluation, we are pleased and excited to announce Riali Consult Limited as a winner of International Travel Awards as Best Travel Company in Ghana 2021.”

CEO of Riali Consult, Mrs. Alisa Osei-Asamoah said the award inspires the company to go higher in bringing memorable travel adventures to their patrons. “We are encouraged by this award to offer more competitive travel and tour services to our clients. At Riali Consult we are very firm about delivering excellent and top notch services and this award gives credence to what we have been doing all these years,” she said.

Riali Consult Wins

Riali Consult Wins

A very delighted and thankful Mrs. Osei-Asamoah added that “we could not have achieved this without the magnanimous support of all those who voted for us and the organisers who nominated us in the first place. I’d also like to express my profound appreciation to the super amazing and exceptional team at Riali Consult who work round the clock to ensure client satisfaction always. This recognition is truly humbling for us all.”

Riali Consult has been in operation since 2004. It is an inbound tour operator focusing on markets in Europe, the Americas, Asia and Africa. It also organises tours all across Ghana and has been at the fore of promoting domestic tourism.

Riali Consult

Riali Consult

The company covers all aspects of travel arrangements for both leisure, business and special interest tours destinations for varying markets. As a Travelife partner, sustainability is a key practice in its operations.
The travel and tour company focuses on providing quality hospitality and efficient services which are delivered with professionalism for both domestic and international visitors.
Organised and presented by Golden Tree Event Tourism Marketing, International Travel award is crafted to honor the excellent performers in the tourism and travel industry around the world. The participants are from Tourism boards, travel companies, hotels, villas, apartments, attractions, theme parks and tourism individuals.

Don’t Mischievously Accuse The General Secretary – Friends of John Boadu

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1D1F: President Akufo-Addo Inspects Work On 95% Complete Central Oil Mills 

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1D1F: President Akufo-Addo Inspects Work On 95% Complete Central Oil Mills

The President of the Republic, Nana Addo Dankwa Akufo-Addo, has inspected work Central Oil Mills Limited, a wholly Ghanaian owned agro-processing company located at Jukwa Mfuom/Asamanso in the Hemang Lower Denkyira District of Central Region, which specialises in oil palm development and palm oil processing, and is operating under Government’s 1-District-1-Factory initiative.

President Akufo-Addo visited the factory, on Tuesday, 19th October 2020, on day 2 of his 2-day tour of the Central Region.

As part of Government’s Industrial Transformation Agenda, Central Oil Mills, established in 2010, was identified as one of the potentially viable but distressed companies.

To this end, an organisational audit was conducted by a team of technical consultants from the Ministry of Trade and Industry, who recommended the company to the Ghana EXIM Bank for support under the One District One Factory (1D1F) programme.

Ghana Exim Bank, on 21st November 2018, approved a Medium-Term Loan Facility of GH¢12 million for Central Oil Mills Limited to undertake three main activities:

These are the rehabilitation and expansion of an existing primary crude palm oil processing factory at Jukwa-Mfoum, the establishment of a brand new secondary (value-addition) oil palm processing factory at Jukwa-Asamanso, with capacity to process vegetables (Canned and bottled products), and the expansion and development of oil palm plantation.

The Bank subsequently approved a supplementary loan of GH¢2 million for the project, thus bringing the total loan approved for the project to GHS14 Million.

The new factory at Asamanso and the expansion work at Mfuom are about 95% and 90% completed respectively, and are both expected to be fully completed by 30th November 2021.

The project involves the expansion of an existing oil palm mill with an initial capacity of 2,400 metric tonnes of fresh fruit bunches (FFB) per annum into a bigger mill with a minimum capacity of 12,000 metric tonnes of FFB per annum on a single shift, with capacity to do double shifts.

With a yield of 20%, this will produce 2,400 metric tonnes of palm oil per annum which could be processed into secondary canned and bottled products. In addition, through the revitalisation process, the company has increased its storage capacity from 30 metric tonnes to 150 metric tonnes.

The company has rehabilitated it existing oil palm plantation and has initiated the process to expand its plantation by 200 acres per annum over five years. This is being supported by the acquisition of new trucks, and farm implements to support cultivation and transportation. The company also has existing nucleus farms at Jukwa Mfuom and its environs and also about 50 out-grower individuals.

The project is expected to create a minimum of 200 direct jobs from its current skeletal workforce of 30 persons when fully operational. More than 500 indirect jobs will be created within two years at both factory sites and from the plantation.

Buyers from South Africa, Italy, Netherlands and Nigeria are already in discussions with the company for export of finished products, thus opportunity to generate foreign exchange for the country.

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Mahama Constructed The Roof Before Building The Foundation  – President Akufo-Addo On Komenda Sugar Factory 

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Mahama Constructed The Roof Before Building The Foundation  – President Akufo-Addo On Komenda Sugar Factory

The President of the Republic, Nana Addo Dankwa Akufo-Addo, says the decision taken by his predecessor, John Dramani Mahama, to build the Komenda Sugar factory, without first establishing a sugarcane plantation, betrays every principle of construction.

“It is like building a house, and say you are going to start from the roof, before you have a foundation. How does the house get built? You going to start from the roof, when you haven’t built the foundation?” President Akufo-Addo asked.

According to President Akufo-Addo, “You would think that every industrial activity would begin with, first of all, what you want to do, what you want to produce. Once you identify that, then clearly, your next step has to be what are the inputs, what are the things that you need to be able to feed into your factory, to get to your outputs and you are therefore to be satisfied when you start producing your production, those inputs are there.”

But this, he said, is not John Mahama’s way of doing things, as “he will rather build the roof, once the roof has been built then he will come down and then build the foundation. You know that a house built on that principle will collapse, just as Komenda collapsed.”

The President made this known on Monday, 18th October 2021, during an interview on Eagle FM, at the commencement of his 2-day working visit to the Central Region, in response to comments made by the former President last Friday.

It will be recalled that during an interview on Cape FM, former President Mahama stated that “I’m not that foolish to set up a factory and have no plan for the provision of raw materials. I knew what the vision was. It was to get the raw materials first”, despite having not setup a single sugarcane plantation to serve as a raw material source for the factory.

Information from an October 2017 Technical Audit Team, made up of experts from the academia, industry, and independent sugarcane consultants, revealed that a test run was never completed before the Komenda Sugar Factory was commissioned in May 2016, due to the unavailability of sufficient sugarcane for the test run.

In addition, the factory, on commissioning, was not in a position to produce the required refined sulphurless white sugar due to the absence of 35 component parts/units, which were not fully installed before the test run including for melt clarification, vertical crystallizers, molasses weighing system, bagasse compressor and a dosing system. The Effluent Treatment Plant had also not been constructed at the time of the commissioning.

President Akufo-Addo also revealed that a preliminary assessment the value of the factory revealed that the factory had been over valued to the tune of some US$12 million. The Report of a Forensic Audit has been submitted to EOCO, which has since then written to Office of the Attorney General and Ministry of Justice to conduct further investigations for possible prosecution.

Revival Plan
Towards the revival of the factory, the President revealed that a Strategic Investor, Park Agrotech Ghana Limited, had been selected as the preferred Strategic Investor for the Komenda Sugar Factory, and their recommendation was approved by Cabinet.

However, negotiations between the Transaction Advisor (Price Water House) and the Strategic Investor has been unduly prolonged due to a number of demands made by the Strategic Investor, as well as the effects of the emergence of COVID-19 Pandemic, which restricted consultations between the investor and the Transaction Advisor.

With the delays in concluding negotiations between the Transaction Advisor and the Strategic Investor, the Ministry of Trade and Industry, after given the required notice, terminated the negotiations with the Strategic Investor on 1st September 2021 for their failure to fulfil the conditions precedent to the offer made to them.

The President indicated that the services of the Technical Partner with expertise in the sugar industry has been engaged to manage the technical operations of the factory. In addition, traditional authorities in Komenda and the adjoining districts have been engaged to acquire large tracts of land for sugarcane plantation.

President Akufo-Addo was expectant that the Komenda Sugar Factory will commence commercial production in the first quarter of 2022.

Mr Mahama should stop the mischief, NPP never rigged 2020 election…Dr Agyenim-Boateng

 

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