With operating losses ¥22 billion ($287 million) in Europe for the fiscal year to March due to stagnant sales in a continent beset by uncertainty of a raging debt crisis.[citation needed] In February 2012, Mitsubishi decided to stop production in Western Europe by the end of 2012.[52][53] 2 On 1 October, it was announced that the Dutch industrial conglomerate VDL Groep had taken over NedCar from Mitsubishi, retaining all 1,500 employees.[54]