Connect with us

Hi, what are you looking for?

Stock

CNH Industrial to temporarily shut several plants in Europe on supply disruptions

Stock Markets59 minutes ago (Oct 13, 2021 06:11PM ET)

(C) Reuters. FILE PHOTO: Flags with CNH Industrial logo are pictured outside CNH Industrial building in Turin, Italy, February 5, 2020. REUTERS/ Massimo Pinca/File Photo

(Reuters) – Italian-American vehicle maker CNH Industrial (NYSE:CNHI) NV said on Wednesday it will temporarily shut several of its European agricultural, commercial vehicle and powertrain manufacturing facilities due to the disruptions of procurement of components, including semiconductors.

The maker of farm machinery, Iveco commercial vehicles, construction equipment and powertrains plans to shut the concerned plants for eight working days this month, it said in a statement, adding that it is constantly reviewing its production schedules.

Automakers around the world are grappling with the shortage of semiconductor chips amid a post-pandemic rise in demand, forcing several companies to reduce the pace of production in recent months.

Besides, some carmakers have warned the chip crisis will drag on into 2022 with earlier industry hopes of a quick resolution long since dashed.

CNH Industrial to temporarily shut several plants in Europe on supply disruptions

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt.

Uncategorized

Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione.

Uncategorized

Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum.

Uncategorized

Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora.

Disclaimer: Buzzclever.com it's managers and its employees (collectively "The Company") do not make any guarantee or warranty about what is advertised or above. Information provided by this website is for research purposes only and should not be considered as personalized financial or health advice. Copyright © 2021 Buzz Clever. All Rights Reserved