The acquisition builds upon a long partnership between the two companies and will further enhance CNH Industrial’s position in the global agriculture equipment market by adding strong innovation capabilities in autonomous and precision agriculture technology.
As work proceeds apace to deliver the previously announced spin-off of its On-Highway business, CNH Industrial N.V. has named Gerrit Marx as the designated Chief Executive Officer of the new entity, which is expected to assume independent operations in early 2022.
According to various reports, Mahindra has announced, in a letter to dealers, various measures to protect manufacturing and dealership employees from a new wave of COVID-19 in India.
In CNH Industrial's first quarter earnings call on May 5, CEO Scott Wine addressed the company's reported discussions with Chinese automotive manufacturer FAW concerning its Iveco truck business. The discussions were first reported in early March 2021, when it was reported CNH Industrial was considering "alternatives to a planned spin-off and separate listing of its truck and bus business and that it was in talks with FAW over the future of Iveco."
CNH Industrial reported first quarter consolidated revenues of $7.5 billion (up 37% compared to the first quarter 2020), net income of $425 million and adjusted EBIT of Industrial Activities of $545 million (up $693 million).
According to a report from Reuters, CNH Industrial will include its defense and special vehicle business segments in the On-Highway portion of its planned business spin-off, contrary to its original plan.
CNH Industrial has announced that it has appointed Parag Garg as Chief Digital Officer and Marc Kermisch as Chief Information Officer for Off-Highway business. This follows the appointment of Kevin Barr as Chief Human Resources Officer on March 19, 2021.
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We’ve been busy over here in the Technology Corner preparing for the 10th annual Precision Farming Dealer Summit, taking place Jan. 6-7 in downtown Louisville, Ky. Skip Klinefelter, CEO of Ag Technology Solutions Group in Greenville, Ill., will be one of several speakers sharing their unfiltered perspective on the state of precision ag.