CASE IH LANDS MAJOR COTTON PICKER CONTRACTS IN CHINA
For more information please contact:
Communications (630) 887-2345
WASHINGTON, D.C. - (August 21, 2008) - Case IH, a leading brand in the agricultural equipment business of CNH (NYSE:CNH) and Fiat Group (FIA.MI), recently signed two contracts totaling nearly $12 million with the Xinjiang Agriculture Cultivation Group (XACG) in China to supply 40 Case IH Model CPX620 cotton pickers.
The pickers, manufactured in Benson, Minn., will be delivered to Division 1 and Division 6 of XACG in the third quarter of 2008 in time for the cotton harvest in Xinjiang Province.
"As we look to expand our business in China, these new contracts represent a strong positive in that direction for our company," said Franco Fusignani, Chief Executive Officer of CNH International.
Case IH CPX620 cotton pickers harvest from both sides of the cotton plant, providing customers with the best harvesting efficiency on the market. The bigger basket capacity, automatic chassis lubrication and powered guide axle make the CPX620 more productive and more capable of working in different soil conditions in Xinjiang.
Joseph Samora, CNH Senior Vice President, said, "By providing loan guarantees on the new cotton picker contracts, the U.S. Ex-Im Bank continues to fulfill its stated mission of helping to create and maintain U.S. jobs. These contracts will have a positive impact directly affecting more than 1,400 employees at our plants in Benson, MN and Grand Island, NE.."
CNH Global N.V. is a world leader in the agricultural and construction equipment businesses. Supported by more than 11,000 dealers in 160 countries, CNH brings together the knowledge and heritage of its Case and New Holland brand families with the strength and resources of its worldwide commercial, industrial, product support and finance organizations. CNH Global N.V., whose stock is listed at the New York Stock Exchange (NYSE:CNH), is a majority-owned subsidiary of Fiat S.p.A. (FIA.MI). More information about CNH and its Case and New Holland products can be found online at www.cnh.com.
Case IH is a global leader in agricultural equipment, committed to collaborating with its customers to develop the most powerful, productive, reliable equipment - for those who demand more. With headquarters in the United States, Case IH has a network of dealers and distributors that operates in over 160 countries. Case IH provides agricultural equipment systems, flexible financial service offerings and parts and service support for professional farmers and commercial operators through a dedicated network of professional dealers and distributors. Productivity enhancing products include tractors; combines and harvesters; hay and forage equipment; tillage tools; planting and seeding systems; sprayers and applicators; and site-specific farming tools. Case IH is a brand of CNH (NYSE: CNH), a majority-owned subsidiary of Fiat Group (FIA: MI).