CNH Industrial announces updates on its European assembly operations in response to the COVID-19 pandemic
In light of the continuing emergency caused by the COVID-19 pandemic, CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announced today that the majority of its European assembly operations will remain suspended until April 17.
Logistics hubs, and the related industrial and supply operations, remain operational to guarantee as timely and efficient parts and service support to end customers as possible at this time. This decision has been taken considering the vital nature to society of the sectors in which the Company operates, especially in emergency situations: agricultural and construction machinery, the transport of goods and people, fire fighting vehicles and those dedicated to public safety.
The safeguarding of the health and safety of Company employees remains at the forefront when taking decisions to suspend assembly activities, as well as to preserve others at minimum levels. To this end, CNH Industrial is following all national directives by implementing stringent measures and continuing to share and leverage internal best practices globally. This latest decision was reached in agreement with all social partners in the countries in which the Company operates.
Subsequent updates on European operations will be defined over the course of the coming weeks, based on COVID-19 developments.
London, April 3, 2020
Media RelationsMedia RelationsUnited Kingdommediarelations@cnhind.com0044 207 7660 346
MORE FROM CNH INDUSTRIAL CORPORATE
With all plants and depots up and running by the end of the second quarter, CNH Industrial reported consolidated revenues of $5.6 billion, net income of $361 million and adjusted net loss of $85 million. Net debt of Industrial Activities at $2.3 billion, with positive free cash flow of $97 million helped by end-demand resuming in most markets and the Company’s cost reduction and cash preservation measures. CNH Industrial ended the quarter with strong available liquidity of $11.5 billion
CNH Industrial received a 2020 MSCI ESG Rating of AAA for the seventh consecutive year and is included in MSCI ESG Leaders Indexes
The renaissance of industrial hemp in North America: How New Holland supports an evolving industry. The latest Top Story available on CNHIndustrial.com