March 25, 2020 / 7:01 PM / 4 days ago

Exor plant closures at FCA, Ferrari, CNH could continue and grow for coronavirus

MILAN, March 25 (Reuters) - Investment firm Exor said on Wednesday current plant closures at controlled companies Fiat Chrysler (FCA), CNH Industrial and Ferrari, though temporary, might continue and increase depending on how the coronavirus outbreak developed.

Most of FCA’s plants around the world are currently shut in response to the virus emergency and a slump in demand. Ferrari’s two plants in Italy are also closed, as well as most of CNH’s facilities in Europe.

The holding company of Italy’s Agnelli family, whose investments span from the automotive to the insurance sectors and also include industrial vehicles, editorials and football, said its net asset value rose to $26.155 billions at end-2019 from $19.74 billions one year earlier.

But it said it could not reasonably estimate the impact the coronavirus outbreak would have on its operations and results. (Reporting by Giulio Piovaccari, editing by Stephen Jewkes)

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