Iveco, CNH to be hit by plant closures-CEO

Newswire

TURIN, June 26 (Reuters) - Factory closures included in a new Fiat group turnaround plan will affect truckmaker Iveco and farm equipment manufacturer CNH NV , Fiat Chief Executive Giuseppe Morchio said on Thursday. "Due to regional sensitivies I cannot be any more specific at this time," Morchio told a news conference at which he presented the turnaround plan. Earlier Fiat said it would close 12 factories in 2003 and 2004, most of them outside Italy, and shed 12,300 jobs -- out of a ...

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