CNH Announces Regulatory Approval for Required Divestiture of Tractor Lines and Plant.Business Editors RACINE, Wis.--(BUSINESS WIRE)--July 20, 2000 CNH Global CNH Global N.V. (short for Case-New Holland; NYSE: CNH-ADR's) is the second largest manufacturer of agricultural equipment and the third largest maker of construction equipment in the world. (N:CNH CNH Carteira Nacional de Habilitação CNH Centro Nacional de Huracanes (Spanish) CNH California Nevada Hawaii (a district of Kiwanis International) CNH Club Náutico Hacoaj ) announced today that the U.S. Department of Justice has approved the sale of its New Holland Versatile, Genesis and G/70 series four-wheel and two-wheel drive This article is about Two by Two vehicles. For other uses, see Two by Two. Two wheel drive or 2WD describes vehicles with a drivetrain that allows two wheels to receive power from the engine simultaneously. tractor lines, together with the Winnipeg, Canada, plant in which they are made, to Buhler Versatile Inc., a subsidiary of Buhler Industries Inc. (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :BUI BUI Boating Under the Influence BUI Browser User Interface BUI Bristol Urological Institute BUI Build Up Index BUI Bicycling Under the Influence BUI Badminton Union of Ireland BUI Bus Unit Interface BUI Business User Interface BUI Button User Interface ). The two companies announced last month that they had reached a sales agreement pending Department of Justice approval. The companies expect to complete the transaction by the end of this month. Under the agreement, Buhler will supply the worldwide New Holland commercial organization with these tractor lines until October 31, 2001, and the Genesis and G/70 series tractors to markets outside of North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. until December 31, 2002. Buhler also will supply Winnipeg-produced replacement parts for the tractor lines to the New Holland organization on an ongoing basis. With strong global brands, CNH N.V. is a leader in the agricultural equipment, construction equipment and financial services industries and had combined 1999 revenues of approximately $11 billion. Based in the United States, CNH sells its products in 160 markets through a network of more than 10,000 dealers and distributors. CNH products are sold under the following brands: Case, Case IH, Fiatallis, Fiat-Hitachi, Link-Belt earth moving equipment, New Holland, O&K and Steyr. |
|
|||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion