CASE SELLS INTEREST IN LBX COMPANY
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RACINE, Wis. - (May 10, 2010) - Case Construction Equipment today announced the sale of its interest in LBX Company LLC to S.C.M. (America), Inc., an affiliate of Sumitomo (S.H.I.) Construction Machinery Co., LTD. ("Sumitomo"). As a result of this transaction, LBX is now wholly owned by Sumitomo.
"The decision to sell our interest in LBX is a continuation of the strategy we began in 2009 to consolidate back office brand management and streamline our industrial footprint," said Jim McCullough, CEO and President of CNH Construction. "This allows CNH to concentrate efforts on our key construction brands and strengthen the foundation for our brands continued growth as we continue to take advantage of market opportunities."
The existing global supply alliance between SCM and CNH Global will remain intact.
Case Construction Equipment sells and supports a full line of construction equipment around the world, including the No. 1 loader/backhoes, articulated trucks, compact and standard excavators, telescopic handlers, motor graders, wheel loaders, vibratory compaction rollers, crawler dozers, skid steers, compact track loaders and rough-terrain forklifts. Through Case dealers, customers have access to a true professional partner?with world-class equipment and aftermarket support, industry-leading warranties and flexible financing. More information is available at www.casece.com. Case is a division of CNH Global N.V., whose stock is listed at the New York Stock Exchange (NYSE:CNH), which is a majority-owned subsidiary of Fiat S.p.A. (FIA.MI). More information about CNH can be found online at www.cnh.com.