Harley-Davidson shares fall as it suspends plants for 2 weeks / Photo: SCOTT OLSON - GETTY IMAGES NORTH AMERICA/AFP/File
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Dubai Telegraph - Harley-Davidson shares fall as it suspends plants for 2 weeks
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Harley-Davidson shares fall as it suspends plants for 2 weeks
Harley-Davidson suspended most assembly operations and shipments for two weeks due to an unspecified supply chain problem, the motorcycle maker announced Thursday.
Shares of the transport company tumbled following the announcement, which affects factories in Wisconsin and Pennsylvania.
The move does not affect operations of Harley's LiveWire electric motorcycle business, the company said.
"This decision, taken out of an abundance of caution, is based on information provided by a third-party supplier to Harley-Davidson late on Tuesday concerning a regulatory compliance matter relating to the supplier's component part," Harley-Davidson said.
A Harley spokesperson declined further comment.
The motorcycle maker has previously been among the many companies in transport to cite the shortage of semiconductors as a drag on operations, leading to leaner profit margins in the most recent quarter.
Shares fell about 10 percent to $32.22 in early-afternoon trading.
Y.I.Hashem--DT
