Stellantis is taking steps to save one of its key suppliers according to a number of media reports.
CLN-Coils Lamiere Nastri SpA (CLN) supplies a range of steel-based automotive components to Stellantis, but is experiencing a severe financial crisis amid mounting debt levels. The Italy-based supplier has manufacturing plants in a number of European countries, as well as in Latin America.
The Bloomberg news agency reports that Stellantis is prepared to pay more (an addistional 3% on Italian contracts) than its contracted prices for CLN-supplied parts, in order to keep the company afloat.
Stellantis is CLN’s main customer, a legacy of its historical position as a supplier to Fiat in Italy.
Earlier this year it was reported that Stellantis could purchase CLN plants in Italy (and possibly elsewhere) as part of a wider financial restructuring plan. Stellantis is reportedly anxious to reduce risk in its supply chain as it looks to step up production in Italy.
“Stellantis trying to save key supplier CLN – reports” was originally created and published by Just Auto, a GlobalData owned brand.
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