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 jessica.sier@wsj.com

 

(END) Dow Jones Newswires

March 16, 2020 05:23 ET (09:23 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
Ferrari NV (NYSE:RACE)
Historical Stock Chart
From Dec 2020 to Jan 2021 Click Here for more Ferrari NV Charts.
Ferrari NV (NYSE:RACE)
Historical Stock Chart
From Jan 2020 to Jan 2021 Click Here for more Ferrari NV Charts.