During the fourth quarter of 2012, Southeastern Management, a large mutual fund managed by billionaire Mason Hawkins, initiated a position of 1.5 million shares in CNH Global CNH +1.97%, a $10 billion market cap manufacturer of farm and construction machinery (see more of Southeastern's stock picks).
CNH Global reported on January 31 that its net income for the fourth quarter of 2012 rose slightly to $195 million from $193 million for the last quarter of 2011.
CNH Global N.V. (NYSE: CNH), a global leader in the construction and agricultural equipment businesses, today announced that as a result of an ongoing strategic review of its construction equipment business, it is moving into the next phase of agreements with Kobelco Construction Machinery Co., Ltd.
CNH Global easily surpassed analysts estimates for its first-quarter earnings, which continues to reinforce the strength of agriculture fundamentals particularly in North America.
In a surprising move, CNH Global has revealed plans to close the assembly plant in Dublin, Ga., established by New Holland in mid-1970s to bring compact tractor production to the U.S.
A “global platform” concept that will reduce costs and improve margins through economies of scale is being pursued separately by AGCO and CNH Global to revitalize their mid-range tractors.
The remaining operations of a factory that was once a major International Harvester component manufacturing and tractor assembly plant could close as a result of the ARGO Group’s decision to liquidate the operating company, McCormick France, which is now being managed by a court-appointed administrator.
The world’s two largest farm equipment manufacturers are raising the ante in their efforts to establish a foothold in the enormous Russian market for ag machinery.
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There was plenty of technology on display at the World Dairy Expo in Madison, Wis., a few weeks ago. Farm Equipment editor Mike Lessiter caught up with Monarch Tractor’s John Issacson and got his take on the top 5 applications in autonomy right now.