Case sells 100 additional combines to Uzbekistan; more than 700 Case combines have been sold in Central Asia.RACINE, Wis.--(BUSINESS WIRE)--July 16, 1996--Case Corporation (NYSE NYSE See: New York Stock Exchange :CSE (Certified Systems Engineer) See Microsoft certification. ) today announced that it has sold an additional 100 grain and rice combines to Uzbekistan. Including earlier equipment sales to Uzbekistan and Turkmenistan, Case has sold more than 700 of its Axial-Flow combines in Central Asia in little more than one year. The sale to the Uzselkhoznabremont, Uzbekistan's procurement and distribution agency, is secured by a letter of credit from the National Bank of Uzbekistan, confirmed by Chase Manhattan Bank The Chase Manhattan Bank, now part of JPMorgan Chase, was formed by the merger of the Chase National Bank and the Bank of the Manhattan Company in 1955. The bank is headquartered in New York City. , and backed by the U.S. Ex-Im Bank See Export-import Bank. . "We are pleased that Uzbekistan's Ministry of Agriculture has been delighted with our Case IH Axial-Flow combines and is purchasing additional units," said Jean-Pierre Rosso, Case chairman, president and chief executive officer. "These combines will help increase the volume and quality of yields from Uzbekistan farms, and we look forward to supplying additional agricultural equipment to this region to further improve productivity." Uzbekistan, along with other Central Asian nations of Kazakhstan, Kyrgyzstan, Tajikistan and Turkmenistan, comprise one of the major agricultural regions of the former Soviet Union. The large farms in this region are particularly well-suited for high-production Case IH agricultural equipment. Case Corporation, with net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight of nearly $5 billion in 1995, is headquartered in Racine, Wisconsin, and is a leading worldwide designer, manufacturer and distributor of agricultural and construction equipment. The company's products are sold through a network of approximately 4,100 independent dealers and distributors in more than 150 countries. Case Credit Corporation, 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 the company, services a portfolio of $3.7 billion of agricultural and construction equipment financing and leasing contracts. CONTACT: Case Corporation, Racine William B. Masterson, 414/636-5793 Daniel Laugerotte, France, 33 1 49 90 23 41 |
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