Fiat Chrysler Shares Slump After European Plant Suspension

   By Jessica Sier

Shares in Fiat Chrysler Automobiles NV slumped on Monday, after the company announced it was suspending production in several European plants belonging to subsidiaries FCA Italy and Maserati due to the coronavirus pandemic.

The car manufacturer said the suspension will stay in place until March 27 and will affect six Italian facilities, one in Serbia and another in Poland.

Fiat Chrysler has encouraged "social distancing" between employees at manufacturing workstations and remote working is in place for employees globally.

"The group is working with its supply base and business partners to be ready to enable our manufacturing operations to deliver previously planned total levels of production despite the suspension when market demand returns," the company said in a statement.

Shares at 0845 GMT were down 9% to EUR7.63.

Write to Jessica Sier at jessica.sier@wsj.com

(END) Dow Jones Newswires

March 16, 2020 05:04 ET (09:04 GMT)

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