CNH Industrial Temporarily Shuts Down European Plants

CNH Industrial NV (NYSE:CNHI) will temporarily shut down several European agricultural, commercial vehicle, and powertrain manufacturing facilities.
CNH Industrial manufactures heavy machinery with various products, including agricultural and construction equipment, commercial vehicles, and powertrain components.
The closure aimed to counter the ongoing disruptions to the procurement environment and the crisis of core components, especially semiconductors.
CNH Industrial is constantly reviewing its production schedules. The shutdown will not likely exceed eight working days in October.
Price Action: CNHI shares closed lower by 0.25% at $16.14 on Wednesday.