CNH Global N.V.'s second joint venture in China has received its business license from the Shanghai Industrial & Commercial Administration Management Bureau of the People's Republic of China.CNH Global N.V.'s second joint venture in China has received its business license from the Shanghai Industrial & Commercial Administration Management Bureau of the People's Republic of China. The license grants Shanghai New Holland Agricultural Machinery Corp., Ltd., full permission to begin operations and conduct business in the People's Republic of China. Shanghai New Holland Agricultural Machinery Corp., Ltd., was formed by an agreement between Shanghai Tractor and Internal Combustion Engine Internal combustion engine A prime mover, the fuel for which is burned within the engine, as contrasted to a steam engine, for example, in which fuel is burned in a separate furnace. Corporation (STEC STEC shiga toxin-producing Escherichia coli. ), a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Shanghai Automotive Industry Corporation The Shanghai Automotive Industry Corporation (in Chinese: 上海汽车工业(集团)总公司; Pinyin: Shànghǎi Qichē Gõngyè (Jítuán) Zǒnggõngsī; or 上汽, Shàngqi; abbreviated SAIC and CNH's New Holland brand of agricultural equipment. The joint venture company will manufacture, distribute and ultimately export agricultural tractors under 100 horsepower. |
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