Benzinga | Oct 14, 2021 07:46AM EDT

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.