CNH Parts & Service, the product support division of agricultural and construction equipment maker CNH Global N.V. (NYSE: CNH), today announced plans to invest more than $13 million to equip and lease a new facility at 210 South Enterprise Drive in Lebanon, Ind., in the Lebanon Business Park. Once fully operational and staffed, the new facility is expected to support 100 new area jobs.
The major shareholder of Kverneland, the Norwegian maker of farming implements, has reportedly sold its shares to Kubota, giving the Japanese tractor maker the upper hand in acquiring control of the firm.
According to a report from Reuters News Service, Kverneland ASA announced that following the disclosure of Kubota Corp.'s voluntary offer to acquire all shares of the the company, Kverneland has received a letter from CNH Global N.V.
CNH Global set up a board committee to investigate plans for its merger into its largest shareholder, Fiat Industrial Group, although there are significant doubts over the tractor maker's powers to derail the $13bn deal.
CNH Global N.V. supports the international efforts for a diplomatic solution of the issues relating to the relations with Iran. In this respect, CNH announces that, effective immediately, its subsidiaries will no longer carry out business activity related to products or components where the ultimate destination of such products is known to be Iran, other than to the limited extent required to fulfill already existing binding obligations.
In the twelve years since New Holland and Case merged to form CNH Global under the Fiat Industrial family, the New Holland brand has struggled to keep a foothold in some of the markets that it had once dominated in North America.
Kubota, the Japanese maker of industrial machinery, raised its offer for Kverneland ASA to 1.62 billion kroner ($276 million), trumping counter bids from CNH Global NV (CNH) and Chery Heavy Industries Co. Ltd.
Dow Jones reports that Fiat SpA (F.MI) will present more details of the spin-off of its truck and tractor units to bankers by June 30, as it seeks to refinance more than EUR3 billion of debt, two people familiar with the situation said Monday.
Lessiter Media editors visited RhinoAG in Gibson City, IL to get a behind-the-scenes glimpse at the production processes and attention to detail that have contributed to their longevity as they celebrate their 90th anniversary in 2024.
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