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Fiat to close farm equipment plant in Italy

Posted on: Fri, 26 Jun 2009 13:00:00 EDT

Symbols: CNH

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Jun 26, 2009 (Datamonitor via COMTEX) --
CNH | Quote | Chart | News | PowerRating -- Italian car maker Fiat intends to close its CNH Global NV tractor plant at Imola in Italy, reported Reuters.

According to the news source, the Italian company cited drop in sales and low purchases by Italian farmers for its decision to close the tractor plant. The Italian plant reportedly employs about 500 workers.

Earlier, Fiat announced plans to halt production at its Sicily plant in 2011 amid fall in auto sales worldwide.

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