The COVID-19 pandemic is behind CNH Industrial’s decision to suspend the majority of its manufacturing operations in North and South America for a two-week period, starting yesterday (March 30).
The closure of the North and South American manufacturing sites follows the temporary closure of the company’s European manufacturing operations on March 20.
The company has not specified which agricultural equipment sites are affected, but important ones in North America include the tractor plants at Racine in Wisconsin (Case IH Magnum/New Holland T8) and Fargo in North Dakota (Case IH Quadtrac/New Holland T9), and the combine facility at Grand Island in Nebraska.
Most component facilities will remain operational at low speed, in order to ensure the continuation of supply to the company’s other manufacturing facilities in North America – specifically those that are deemed essential by the US government.
North American parts depots and most dealer locations will also remain open to maintain uninterrupted service to customers. CNH Industrial says it is working closely with union leaders to implement the temporary shutdowns and the re-opening of the plants.
Finally, the difficulty to predict what the global spread of the virus and the resulting market uncertainty may have on the company’s 2020 results is behind the decision to withdraw the financial outlook for this year presented early February. Further updates will be provided in the company’s Q1 earnings announcement on May 6, 2020.
See also:
https://www.profi.co.uk/news/temporary-closure-cnh-industrial’s-european-assembly-plants
