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

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October 13 (Businesshala) – Italian-American automaker CNH Industrial NV (CNHI.MI) said on Wednesday it would temporarily close several of its European agricultural, commercial vehicle and powertrain manufacturing facilities due to disruptions in its procurement of components, including semiconductors. will do it.

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

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Automakers around the world are grappling with shortages of semiconductor chips following a surge in demand, forcing many companies to ramp up production pace in recent months.

In addition, some carmakers have warned that the chip crisis will drag into 2022, hoping for a quick fix since the earlier industry collapsed.

Reporting by Anirudh Saligram in Bengaluru; Editing by David Gregorio
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