U.S. SECRETARY OF COMMERCE DON EVANS ANNOUNCED FRIDAY HE WILL LEAD THE FIRST BUSH ADMINISTRATION TRADE MISSION. CNH GLOBAL N.V. (NYSE: CNH) PRESIDENT AND CHIEF EXECUTIVE OFFICER PAOLO MONFERINO WILL PARTICIPATE.
In the 1990s, the company recognized a mutually beneficial opportunity in the Russian agricultural market. Case IH and the Russian government have an agreement through Declaration of Intent, whereby the company outlined its strategy to contribute significantly to the growth of the Russian agricultural industry. Equipment sales to Russia last year totaled $46.9 million.
As a result of its joint venture company in Uzbekistan to assemble cotton pickers, Case IH has grown to be the largest single Western brand offering a range of agricultural machinery in Russia and the CIS.
New Holland won its first contract, for 100 combine harvesters, with Ukraine in 1996 and later exported combines to Russia, thanks to financing made possible by the European Export-Import Bank.
At present, tractors and combines are not available in sufficient quantity to permit the most efficient use of Russia?s vast agricultural resources. This situation is expected to change substantially as a result of various CNH partnerships to assemble, distribute and eventually manufacture agricultural equipment in Russia.
CNH is the number one manufacturer of agricultural tractors and combines in the world, the third largest maker of construction equipment, and has one of the industry's largest equipment finance operations. Revenues in 2000 were over $10 billion. Based in the United States, CNH's network of dealers and distributors operates in over 160 countries. CNH agricultural products are sold under the Case IH, New Holland and Steyr brands. CNH construction equipment is sold under the Case, Fiatallis, Fiat-Hitachi, Link-Belt, New Holland, and O&K brands.
As a result of its joint venture company in Uzbekistan to assemble cotton pickers, Case IH has grown to be the largest single Western brand offering a range of agricultural machinery in Russia and the CIS.
New Holland won its first contract, for 100 combine harvesters, with Ukraine in 1996 and later exported combines to Russia, thanks to financing made possible by the European Export-Import Bank.
At present, tractors and combines are not available in sufficient quantity to permit the most efficient use of Russia?s vast agricultural resources. This situation is expected to change substantially as a result of various CNH partnerships to assemble, distribute and eventually manufacture agricultural equipment in Russia.
CNH is the number one manufacturer of agricultural tractors and combines in the world, the third largest maker of construction equipment, and has one of the industry's largest equipment finance operations. Revenues in 2000 were over $10 billion. Based in the United States, CNH's network of dealers and distributors operates in over 160 countries. CNH agricultural products are sold under the Case IH, New Holland and Steyr brands. CNH construction equipment is sold under the Case, Fiatallis, Fiat-Hitachi, Link-Belt, New Holland, and O&K brands.