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

by Mike Robinson

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© Reuters. FILE PHOTO – Flags bearing the CNH Industrial logo were pictured at CNH Industrial Building in Turin (Italy), February 5, 2020. REUTERS/ Massimo Pinca/File Photo

(Reuters) – CNH Industrial, an Italian-American manufacturer of vehicle, said Wednesday that it would temporarily close several European production facilities for commercial vehicles, agricultural and powertrains due to disruptions in the procurement of parts, including semiconductors.

In a statement it stated that Iveco, the manufacturer of farm machinery and Iveco commercial cars, construction equipment and powertrains, plans to shut down these plants for eight work days during this month. It also said it was constantly reviewing its production schedules.

Automobile manufacturers around the globe are struggling with shortages of semiconductor chips after a surge in demand. Many companies have had to slow down production since then.

Some carmakers also warned that the chip crisis could drag out into 2022, despite earlier hopes for a swift resolution being long gone.

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