Ferrari Shares Drop After It Suspends Production at Italian Plants
By Jessica Sier
Shares in Ferrari NV fell on Monday after the company announced
over the weekend it would suspend production at its Maranello and
Modena facilities in Italy until March 27.
On Saturday, the Italian luxury car maker said it is
experiencing its "first serious supply-chain issues, which no
longer allow for continued production" as the coronavirus pandemic
continues to spread.
The suspension is effective immediately, and comes just days
after Ferrari said it had reduced its Italian workforce, but hadn't
foreseen any issues regarding its manufacturing plants.
Shares at 0900 GMT were down 5.7% at EUR115.10.
Write to Jessica Sier at firstname.lastname@example.org
(END) Dow Jones Newswires
March 16, 2020 05:23 ET (09:23 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.