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|CNH Acquires Full Ownership of Indian Construction Equipment Joint Venture|
BURR RIDGE, IL, Mar 31, 2011 (MARKETWIRE via COMTEX) --
CNH Global NV, a global leader in the agricultural and construction equipment business, announced today that it acquired full ownership of L&T - CASE Equipment Private Limited, an unconsolidated joint venture established in 1999 with Larsen & Toubro Limited to manufacture and sell construction and building equipment in India. The new wholly owned company will take the name Case New Holland Construction Equipment India Private Limited.
The company, which employs more than 600 people, operates a production facility in Pithampur in Madhya Pradesh and a distribution network of 56 dealers and 144 outlets. With this investment, CNH confirms its commitment to a strong manufacturing base for its construction equipment business at the Pithampur plant. In addition, the company plans to continue to invest in its Case construction equipment product offering and strengthen the sales network to meet the needs of construction businesses in the important local and export markets.
The Pithampur facility currently builds backhoe loaders and vibratory compactors; the complex is spread over 40 acres and occupies over 28,000 sqm of covered area. It is equipped with state-of-the-art facilities, such as high precision laser and cutting machines, welding robots, CNC machine tools, a new automated powder coating system and a variable speed assembly line. The factory holds ISO 9001 certification for design and manufacture of construction and road building equipment and ISO 14001 certification for environmental management. As it is integrated into the CNH manufacturing network, the Pithampur plant will introduce the World Class Manufacturing methodologies to bring it in line with CNH Production System and Quality Standards.
"This is an important step in our long term commitment to consolidate our construction equipment business in India and in other export markets and to develop a manufacturing base in India fully integrated in the CNH worldwide industrial footprint. The Pithampur plant will be in a position to make the most of the opportunities for growth that the sector offers today and in the future," said Harold Boyanovsky, President and CEO CNH Global NV.
Case New Holland Construction Equipment India Pvt Ltd joins CNH's existing agricultural equipment base, New Holland Fiat India Pvt Ltd, located in Greater Noida where it manufactures tractors, transmissions, engines and 4 wheel drive axles for CNH's agricultural and construction equipment brands.
CNH Global N.V. is a world leader in the agricultural and construction equipment businesses. Supported by approximately 11,300 dealers in approximately 170 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 Industrial S.p.A. (MI: FI). More information about CNH and its Case and New Holland products can be found online at www.cnh.com.
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