General Motors (GM) has ceased production at its plant in Cairo in an effort to protect its workers from Egypt’s ongoing political violence.
AAP reports that GM’s factory in the Cairo suburb of 6th October City employs about 1,400 workers. Cars, light trucks and minibuses are manufactured at the plant.
In addition, the company has closed its offices in Cairo.
“The safety and security of our employees is of paramount importance to us. We will continue to monitor the situation closely,” GM said in a statement.
According to Egypt's health ministry, 638 people were killed and thousands wounded in the worst day of civil violence in the modern history of the most populous Arab state.
The Wall Street journal reports that many other Western manufacturers have shut their facilities or are operating under restrictions.
Swedish home-appliance maker Electrolux has stopped production in its Egyptian operations, while Dutch brewer Heineken is operating its Cairo brewery at limited capacity.
And Swedish mobile network provider Ericsson has imposed travel restrictions for its 700 staff in Egypt, of whom approximately 60 are expatriates.
According to Capital Economics, a London-based economic research consultancy, the Egyptian economy has slowed down in the last few months. And the political unrest is likely to make the situation worse.