CNH Industrial announces temporary plant shutdowns in Europe
Rhea-AI Summary
CNH Industrial N.V. (NYSE: CNHI) announced the temporary closure of several European manufacturing facilities due to ongoing procurement disruptions and semiconductor shortages. The shutdown will last no more than eight working days in October. The company is actively adjusting its production schedules to navigate the dynamic environment while maintaining strong demand for its products. CNH Industrial remains focused on optimizing its operations to effectively serve its dealers and customers.
Positive
- CNH Industrial is committed to optimizing manufacturing operations despite disruptions.
- The company is responding to strong demand for its products.
Negative
- Manufacturing facilities are temporarily closing due to procurement disruptions.
- Semiconductor shortages are impacting production capabilities.
News Market Reaction – CNHI
In the trading session that priced this news, CNHI gained 2.23%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
London, October 13, 2021
CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) today announced that it will temporarily close several of its European agricultural, commercial vehicle and powertrain manufacturing facilities in response to ongoing disruptions to the procurement environment and shortages of core components, especially semiconductors.
CNH Industrial is constantly reviewing its production schedules in response to this highly dynamic environment and plans to shut the concerned plants for no longer than eight working days in the month of October. The Company remains committed to optimizing its manufacturing operations to meet continued strong demand and best serve its dealers and customers.
CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com
Contacts:
Corporate Communications
Email: mediarelations@cnhind.com
Investor Relations
Email: investor.relations@cnhind.com
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