PARIS : Plastic Omnium reported on Wednesday a drop of more than 14per cent in its third-quarter sales as the French car parts maker reduces costs to blunt the blow of customers' cuts in output over component shortages.
The group, which makes fuel systems, bumpers and tailgates for cars, reported sales of 1.79 billion euros , down from 2.10 billion a year ago. Volkswagen, Plastic Omnium's biggest customer in 2020, has so far this year produced the lowest number of cars at its main plant since 1958, a source told Reuters.
It added that it had extended part of its hedges against this year's rising gas and electricity prices until the end of 2023.
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