Despite improved quarterly results, farm equipment makers CNH Global NV and AGCO Corp. do not expect a soon upturn for the industry. (Industry News).Despite improved quarterly results, farm equipment makers 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. NV and AGCO AGCO Alcohol and Gaming Commission of Ontario AGCO Anderson, Greenwood, & Company AGCO After Google Check-Out Corp. do not expect a soon upturn for the industry. CNH Global, Lake Forest, Ill., maker of Case IH and New Holland brand equipment, says industry-wide sales were weaker than expected in the first quarter and predicts 2003 industry sales of tractors and combines will fall slightly below last year's levels in North and Latin America Latin America, the Spanish-speaking, Portuguese-speaking, and French-speaking countries (except Canada) of North America, South America, Central America, and the West Indies. . In spite of the weak market, both companies expect to post a profit in 2003. 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 says its quarterly loss narrowed from a year ago as it controlled costs and rolled out new products. AGCO announced earnings of $12.5 million, compared with a net loss of $26.2 million a year ago. |
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