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.
