CNH Industrial
CNH Industrial N.V. is an Italian-American[5] multinational corporation[6] with global headquarters in Basildon, United Kingdom,[7] but controlled and mostly owned by the multinational investment company Exor, which in turn is controlled by the Agnelli family. The company is listed on the New York Stock Exchange and on Borsa Italiana: it is a constituent of the FTSE MIB index. The company is incorporated in the Netherlands. The seat of the company is in Amsterdam, Netherlands, with a principal office in London, England.[8]
| Type | Public (N.V.) |
|---|---|
| ISIN | NL0010545661 |
| Industry | |
| Predecessors | |
| Founded | 2012 |
| Headquarters | Amsterdam, Netherlands |
Area served | Worldwide |
Key people |
|
| Products | |
| Brands | |
| Revenue | €25.03 billion (2019) [1] |
| €1,21 billion(2019) | |
| €760 million (2019) | |
| Total assets | €43,78 billion (2019) |
| Total equity | €22,73 billion (2019) |
| Owner | Exor N.V. (26.89%) |
Number of employees | 63,499 (2019) |
| Website | CNHIndustrial.com |
| Footnotes / references [2][3][4] | |
Through its various businesses, CNH Industrial designs, produces, and sells agricultural machinery and construction equipment (Case IH and New Holland brand families). Present in all major markets worldwide, CNH Industrial is focused on expanding its presence in high-growth markets, including through joint ventures.[9] In 2019 CNH Industrial employed more than 63,000 people in 67 manufacturing plants and 56 research and development centers. The company operates across 180 countries.[7] Following the execution of the deed of demerger from CNH Industrial N.V., Iveco Group was established on 1 January 2022.
Brands
CNH Industrial products are marketed globally through several brands in two operating segments: agriculture and construction.
Agricultural brands
In agricultural equipment, CNH Industrial is a manufacturer of agricultural tractors and combines, including hay and forage equipment and specialty harvesting equipment.
Case IH
Case IH manufactures agricultural tractors, balers, coffee harvesters, combines, cotton pickers, planters, sugar cane harvesters, and tillage equipment, sold through a global network of dealers.[10] CNH parent company
New Holland
New Holland Agriculture manufactures agricultural tractors, balers, combines, forage harvesters, grape harvesters, hay tools, material handlers, planters, seeders, sprayers, tillage equipment and groundscare. New Holland has manufacturing facilities and offices in several countries and an international distribution network.[11]
Steyr
Steyr is an Austrian manufacturer of tractors for the agricultural, forestry and municipal sectors.[12]
Construction brands
In construction equipment, CNH Industrial manufactures machinery, including backhoe loaders and skid-steer loaders in North America, and crawler excavators in Western Europe.
Case Construction Equipment
Case Construction Equipment offers construction equipment, including backhoe loaders, articulated trucks, crawler and wheeled excavators (including compact), telehandlers, motor graders, wheel loaders (including compact), vibratory compaction rollers, crawler dozers, skid steers, compact track loaders, tractor loaders and rough-terrain forklifts.,[13] crawler excavators in India launched in December'2019 at EXCON, Bengaluru.
New Holland Construction
New Holland Construction manufactures construction equipment including crawler and wheeled excavators, wheel loaders, backhoes loaders, skid steer loaders, dozers, telehandlers, mini-wheel loaders compact track loaders, mini and midi excavators and graders.[11]
Financial services
CNH Industrial offers financial services under the brand name CNH Industrial Capital. CNH Industrial Capital offers financial products and services to dealers and customers in North America, Australia, Brazil and Western Europe. The principal products offered are retail financing for the purchase or lease of new and used CNH Industrial equipment and wholesale financing to its dealers. Wholesale financing consists primarily of floor plan financing and allows dealers to purchase and maintain a representative inventory of products.[14] The retail financing is offered in North America, Brazil, Australia and Europe through wholly owned subsidiaries and in Western Europe through the joint venture with BNP Paribas Lease Group.[15]
Parts and service
CNH Industrial brands provides after-sales parts, service and support to their customers, both at the dealerships and in the field. Parts support is offered for items in their current product lines and past products, up to 20 years. Parts distribution is operated through parts depots present on all five continents.[16]
Worldwide presence and production plants
CNH Industrial has a network of more than 11,500 dealers and distributors spread across approximately 170 countries worldwide. Dealers are independent and not owned by CNH Industrial, with the exception of 12 dealerships in North America and Europe.[17] CNH Industrial manufacturing base includes 37 facilities in Europe, Latin America, North America and Asia.[18]
History
Case Construction equipment timeline
- 1842: Case is founded
- 1912: Case manufactures a line of road-building equipment, including graders and compaction units
- 1957: Case Model 320 is launched - the first fully integrated[clarification needed] backhoe loader
- 1969: Case CE begins production of skid steer loaders
- 1988: Fortune Magazine lists the Case loader/backhoe among "100 Products America Makes Best"
- 1998: Case is the first manufacturer to offer ride control on backhoe loaders and skid steer loaders
- 2000: the 100,000th skid steer loader is manufactured
- 2005: the 500,000th loader/backhoe is manufactured
- 2008: Jerome I. Case inducted into the Construction Hall of Fame by the Association of Equipment Manufacturers. Three years later, in 2011, also Case engineer Elton Long, "father of the loader/backhoe," is inducted into the same Construction Equipment Hall of Fame for significant contributions to the construction industry.[19]
- 2011: Case became the first construction equipment manufacturer to offer both selective catalytic reduction and cooled exhaust gas recirculation, aimed at meeting U.S. and European emissions standards.[20]
- 2012: Case celebrates its 170th year in business.[21]
Case IH milestones
- 1847: Cyrus Hall McCormick Sr. patents the McCormick reaper
- 1842: J.I. Case founds Racine Threshing Machine Works
- 1902: McCormick, Deering Harvester Company, Plano Manufacturing Company, Champion Line and Milwaukee Harvester Company merge to create International Harvester (IH)
- 1923: Farmall, the "little red tractor", is introduced to the market
- 1942: Case first self-propelled combine is produced
- 1977: The first Axial-Flow rotary combine is produced
- 1985: Case and the agricultural division of International Harvester merge, creating Case IH
- 1987: Case IH Purchases Steiger
- 1988: Case IH introduces the Magnum tractor – the first new machine to come from the combined engineering of International Harvester and Case.
- 1996: Steiger Quadtrac tractor is introduced.
- 2006: Case IH announces new on-board module builder technology for cotton harvesting. The Case IH Module Express 625 is the first commercial cotton picker with the ability to build modules while harvesting.
- 2009: Case IH launches a new line of combines with six Axial-Flow models, including a Class IX 9120 model.[22]
- 2010: Introduction of EfficientPower Puma, Puma CVX, Magnum and Steiger & QUADRAC models, designed for lower fuel consumption.[22]
New Holland Agriculture milestones
- 1895: Abe Zimmerman produces a feed mill to help the Pennsylvania farming community
- 1903: New Holland Machine Company is founded by Abe Zimmerman in New Holland, Pennsylvania
- 1906: A Belgian mechanic, Leon Claeys, starts to build threshing machines and three years later builds his factory in Zedelgem, Belgium
- 1907: Ford comes out with a prototype of mass-produced tractor; the Fordson Model F is actually produced 10 years later
- 1919: Fiat starts production of Model 702 tractor
- 1964: New Holland buys a major interest in Claeys
- 1975: Braud launches the first grape harvester, model 1020
- 1980s: Fiat acquires Braud
- 1986: Ford buys New Holland and forms Ford-New Holland Inc.
- 1991: Fiat purchases 80 percent of Ford-New Holland and New Holland brand becomes a global full liner producer
- 2001: New Holland introduces the CX combine series
- 2006: New Holland celebrates 100 years of its Zedelgem plant
- 2007: New Holland sponsors Turin's Juventus football club
- 2009: New Holland introduces its Hydrogen-powered tractor NH2 and the Energy Independent Farm concept
- 2011: New Holland is a Gold Sponsor of the Climate Action Networking Reception, hosted by Climate Action in partnership with the United Nations Environment Programme (UNEP) and the South African government in Durban.[23]
- 2012: New Holland celebrates 200,000th tractor made at its Indian plant at its manufacturing facility in Greater Noida, near New Delhi.[24]
New Holland Construction milestones
- 1931: Fiat Trattori builds the first tractor with crawler tracks
- 1947: First hydraulic excavators are built in Turin by Bruneri, which will join the company in 1970
- 1966: Ford builds its first backhoe loader
- 1972: First New Holland skid-steer loader is produced
- 1974: Fiat and Allis-Chalmers merge, creating FiatAllis
- 2002: A global alliance with Kobelco is signed to bring Kobelco's 40-year expertise in crawler excavator design
- 2005: New Holland Construction is launched as a brand
- 2007: New Holland Construction produces the 200,000th skid steer loader, 35 years after its first one came off the line
- 2008: New Holland Construction launches the E215B crawler excavator with a new engine designed for lower emissions
- 2011: New Holland announces its Tier 4 interim diesel-emissions solutions and launches the first compliant models.[25][26]
CNH Global
| Industry | Agricultural machinery Heavy equipment Capital lending |
|---|---|
| Predecessor | Case Corporation New Holland Agriculture |
| Founded | 1999 |
| Defunct | 2013 |
| Fate | Merger |
| Successor | CNH Industrial |
| Headquarters | Amsterdam, Netherlands |
| Revenue | 25,328,000,000 United States dollar (2016) |
| 638,000,000 United States dollar (2016) | |
| −371,000,000 United States dollar (2016) | |
| Total assets | 47,384,000,000 United States dollar (2016) |
Number of employees | 62,828 (2016) |
| Parent | CNH Industrial |
CNH Global NV was the holding company for the multinational manufacturer of agricultural and construction equipment established on 12 November 1999, through the merger of Case and New Holland. Effective 29 September 2013, CNH Global N.V. and Fiat Industrial S.p.A. were merged into CNH Industrial N.V.
CNH's scope included integrated engineering, manufacturing, marketing and distribution of equipment on five continents. CNH's operations were organized into three business segments: agricultural equipment, construction equipment and financial services.
As of 31 December 2012, CNH manufactured its products in 37 facilities throughout the world and distributes its products in approximately 170 countries through approximately 11,500 full line dealers and distributors.[27]
Milestones include:
- 1999: CNH was created in November through the business merger of Case Corporation and New Holland N.V.[28]
- 2000: CNH Global acquires all of the shares of Flexi-Coil Ltd., a Canadian agricultural equipment manufacturer based in Saskatoon, Saskatchewan.[29] Paolo Monferino is appointed President & Chief Executive Officer of CNH Global N.V.[30]
- 2001: CNH Global, Kobe Steel Ltd., and Kobelco Construction Machinery reach an agreement to form a global alliance for the marketing, development and production of crawler excavators worldwide. The alliance with Kobelco includes also distribution of CNH construction equipment in Japan and the Asia Pacific region.[31]
- 2002: CNH Global entered its second joint venture in China. Shanghai New Holland Agricultural Machinery Corp. Ltd. was formed by an agreement between Shanghai Tractor, Internal Combustion Engine Corp.and CNH's New Holland brand ofagricultural equipment.[32] CNH Global N.V. creates Fiat Kobelco Construction Machinery S.p.A. (Fiat Kobelco) and agrees to a long term retail financing partnership across Europe with BNP PARIBAS Lease Group (BPLG), the leasing arm of BNP PARIBAS.[33]
- 2005: In Europe and Latin America, CNH rationalizes non-Case construction equipment brand families into one brand, New Holland Construction.[26] CNH Board elects Harold Boyanovsky as President & Chief Executive Officer of CNH Global N.V.[34]
- 2006: Sergio Marchionne is appointed Chairman of the Board of CNH Global N.V.[35]
- 2007: Case Construction Equipment and Hyundai Heavy Industries form a strategic alliance to produce a selected wheel loader size.[36]
- 2010: Fiat announces that CNH, Iveco and Fiat Powertrain Industrial & Marine will be separated from the auto business and listed in Milan stock exchange as Fiat Industrial.[37][38] CNH and KAMAZ finalize strategic alliance for the production and commercialization of agricultural and construction machinery in Russia.[39]
- 2011: CNH becomes part of Fiat Industrial S.p.A. on 1 January.
- 2012: Richard Tobin is named President and CEO of CNH Global N.V.
Fiat Industrial
| Type | Società per azioni |
|---|---|
| Industry | Heavy equipment |
| Founded | July 2010 (incorporated) |
| Defunct | September 29, 2013 |
| Fate | Merger |
| Successor | CNH Industrial |
| Headquarters | Turin, Italy |
Key people | Sergio Marchionne (Chairman) |
| Products | Trucks, construction and agricultural machinery, industrial and marine powertrains |
| Revenue | €25.8 billion (2012)[40] |
| €2.1 billion (2012)[40] | |
| €921 million (2012)[40] | |
| Total assets | 47,384,000,000 United States dollar (2016) |
Number of employees | 68,257 (end 2012)[40] |
| Subsidiaries | CNH Global (87.4%), Iveco, FPT Industrial |
Fiat Industrial S.p.A. was an Italian company into which Fiat S.p.A. (parent company of Fiat Group) demerged most of its activities not directly related to automobiles at the start of 2011.[41] Fiat Industrial served as a holding company for the activities of truck manufacturer Iveco; an 89.3% stake in the agricultural and construction equipment producer CNH Global; and FPT Industrial, which consists of the industrial and marine activities formerly part of Fiat Powertrain Technologies. The company's Chairman was Sergio Marchionne, who also served as CEO of Fiat S.p.A. and Chairman/CEO of Chrysler Group LLC, now merged as Fiat Chrysler Automobiles.[42]
On 1 January 2011, each existing share of Fiat S.p.A. was converted into one Fiat share and one Fiat Industrial share. This resulted in Exor (the holding company controlled by the Agnelli family), the largest shareholder of Fiat with a stake of around 30%, holding an equivalent stake in Fiat Industrial.[43] Exor has however raised the possibility of the future sale of some of its stake.[44]
In September 2011, the company entered the DJSI World and Europe indexes as leader in the Industrial Engineering sector.
On 29 September 2013, CNH Global N.V. and Fiat Industrial S.p.A. were merged into CNH Industrial N.V., a company incorporated in the Netherlands. Fiat Industrial shareholders received one CNH Industrial common share for every Fiat Industrial share held and CNH Global shareholders received 3.828 CNH Industrial common shares for every CNH Global common share held. CNH Industrial N.V. was subsequently listed on both the NYSE and the Milan stock exchange (Mercato Telematico Azionario. For additional information, see CNH Industrial N.V.[45]
CNH Industrial
- 2013: CNH merges with parent company Fiat Industrial S.p.A., forming the new CNH Industrial N.V., on 30 September.
- 2014: the company entered into a new licensing agreement with Sumitomo (S.H.I.) Construction Machinery and completed acquisition of Miller-St. Nazianz, Inc.
- 2016: CNH Industrial acquired Kongskilde Agriculture and entered exclusive mini-excavator alliance with Hyundai Heavy Industries.
Brands
References
- ^ "2019 Annual Report" (PDF). Exor. Retrieved 16 March 2021.
- ^ "Global 2000: No. 765 CNH Industrial". Forbes. Retrieved 7 March 2017.
- ^ "US SEC: Form 20-F CNH Industrial N.V." U.S. Securities and Exchange Commission. Retrieved 8 March 2018.
- ^ "CNH Industrial – Board of Directors". cnhindustrial.com.
- ^ Turner, George (6 June 2020). "Tax avoidance, bailouts and bribery – The UK government's Corona..." TaxWatch. Retrieved 18 March 2021.
- ^ Campbell, Peter (10 June 2020). "Desert storm Nikola's shares roar past rivals but boss insists truckmaker is 'undervalued'". Financial Times. London. Retrieved 15 February 2021.
CNH Industrial, the Italian group
- ^ a b "CNH Industrial – Annual Report 2019" (PDF). cnhindustrial.com.
- ^ "20-F". doc.morningstar.com. Retrieved 16 March 2021.
- ^ . CNH Industrial. 31 December 2012. Archived from the original on 23 April 2015. Retrieved 2 July 2015.
- ^ "Home". caseih.com.
- ^ a b "Home". newholland.com.
- ^ "Home". steyr-traktoren.com.
- ^ http://www.case-ce.com[permanent dead link]
- ^ "Commercial Equipment Financing, Leasing and Insurance services". CNH Capital. Retrieved 13 June 2010.
- ^ Industrial)%20in%20Belgium%20and%20the%20Netherlands "News - Extension of the partnership between BNP Paribas Lease Group and Case N... | BNP Paribas Bank". Bnpparibas.com. Retrieved 13 June 2010.
{{cite web}}: Check|url=value (help) - ^ "ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934". CNH Industrial Annual Report p.31.
- ^ Report 20F 2012 p. 28 http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9MTc0MDU2fENoaWxkSUQ9LTF8VHlwZT0z&t=1
- ^ FORM 20F 2011 – p. 33. http://phx.corporate-ir.net/External.File?item=UGFyZW50SUQ9NDU3Mjc3fENoaWxkSUQ9NDg0Mjg2fFR5cGU9MQ==&t=1
- ^ "Elton Long Joins Construction Equipment Hall of Fame | Story ID: 17210". Construction Equipment Guide. Retrieved 9 August 2012.
- ^ Case Official website . Archived from the original on 29 June 2012. Retrieved 8 August 2012.
{{cite web}}: CS1 maint: archived copy as title (link) - ^ "Compact Equipment Online - 170 Years of Case Construction Equipment History Compressed into 1 Minute and 7 Seconds (Video)". Ceunbound.com. 10 July 2012. Archived from the original on 19 January 2013. Retrieved 9 August 2012.
- ^ a b Case IH Official website http://www.caseih.com/en_gb/aboutus/pages/history.aspx 2012-07-18 at the Wayback Machine
- ^ "New Holland Agriculture sponsors Climate Action". Climate Action. 20 July 2011. Retrieved 23 February 2020.
- ^ "We New Holland - The world of New Holland". Agriculture.newholland.com. Retrieved 13 June 2010.
- ^ New Holland Construction Official website http://www.t4aroundyou-newholland.com/en/default.aspx
- ^ a b "New Holland Construction | Built Around You". Europe.construction.newholland.com. Retrieved 13 June 2010.
- ^ "Form 20F 2011" (PDF). Form 20F p.21.
- ^ "CNH Global N.V". phx.corporate-ir.net. Retrieved 13 June 2010.
- ^ "CNH completes Flexi-Coil purchase - The Business Journal of Milwaukee". Milwaukee.bizjournals.com. 5 January 2000. Retrieved 13 June 2010.
- ^ . People.forbes.com. Archived from the original on 3 July 2010. Retrieved 13 June 2010.
- ^ "2001/03/29 Kobe Steel Kobelco and CNH Global to Set Up Global Alliance in Their Construction Equipment Business Agreement Includes Substantial Cross Investment Among The Companies". Kobelco.co.jp. Retrieved 13 June 2010.
- ^ . Archived from the original on 9 March 2016.
- ^ "News - CNH and BNP Paribas Lease Group to expand retail financing activities a... | BNP Paribas Bank". Bnpparibas.com. Retrieved 13 June 2010.
- ^ . People.forbes.com. Archived from the original on 3 July 2010. Retrieved 13 June 2010.
- ^ ">> COMPANY >> Executive Profiles". CNH. Retrieved 13 June 2010.
- ^ "Case Construction Equipment and Hyundai Heavy Industries Form Strategic Alliance". Marketwire.com. 11 October 2007. Retrieved 13 June 2010.
- ^ Jo Winterbottom, Helen Massy-Beresford (21 April 2010). "Fiat to demerge autos, industrial activities". Reuters. Retrieved 2 May 2010.
- ^ (PDF). Archived from the original (PDF) on 31 December 2010. Retrieved 13 June 2010.
- ^ "CNH-KAMAZ Industrial JV Announces New Locally Built Models for Russia". Retrieved 24 May 2010.
- ^ a b c d "Annual Report 2012" (PDF). Fiat S.p.A.
- ^ Simpson, Ian; Jewkes, Stephen (31 December 2010). "FACTBOX-Fiat splits off industrial holdings". Reuters. Retrieved 31 December 2010.
- ^ Michelson, Marcel (21 April 2010). "WRAPUP 5-Fiat to demerge autos, industrial activities". Reuters. Retrieved 11 May 2010.
- ^ Hutton, Ray (25 April 2010). "Fiat crowns new emperor John Elkann". The Times. London: Times Online. Retrieved 11 May 2010.
- ^ "Fiat 'Doesn't Need' Partners Beyond Chrysler, Elkann Says". Bloomberg. 29 April 2010. Retrieved 11 May 2010.
- ^ 30 September 2013. Archived from the original on 5 July 2015. Retrieved 2 January 2014.
External links
- Official website
- Business data for CNH Industrial N.V.:
- Bloomberg
- SEC filings
- Yahoo!