LONDON, Oct. 31, 2016 /PRNewswire/ -- CNH Industrial N.V.
(NYSE: CNHI / MI: CNHI) announced today its agreement to acquire the agricultural Grass and Soil implement business of Kongskilde
Industries, part of the Danish Group Dansk Landbrugs Grovvareselskab (DLG A.m.b.A.). This business develops, manufactures and
sells solutions for agricultural applications in the Tillage, Seeding and Hay & Forage segments under various brands,
including Kongskilde, Överum and JF.
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The acquisition comprises a transfer of assets related to the Tillage, Seeding and Hay & Forage activities of Kongskilde
Industries. The manufacturing footprint of this business includes two plants in Europe, located
in Poland and Sweden. The transaction is subject to various
closing conditions, including regulatory approvals.
As a result of the agreement with DLG A.m.b.A., CNH Industrial's global agricultural machinery brand New Holland Agriculture
will undergo a significant product portfolio extension that will strengthen its Tillage, Seeding and Hay & Forage product
offering. New Holland has a long-established leadership in the hay tools segment going back to 1940 with the introduction of the
first self-tying baler to American farmers, a major breakthrough in hay harvesting. Today, New Holland is a leading global brand
and an industry-leader in North America in hay tools with a complete product offering of hay
equipment used in a variety of agricultural, dairy, and livestock industries.
"We are proud to welcome the well established products and brands of Kongskilde, Överum and JF into the CNH Industrial Group.
It is our intention to build upon these proud heritages and significantly increase their market access as part of our worldwide
distribution network," commented Richard Tobin, CEO of CNH Industrial.
Through this agreement New Holland will be able to provide its worldwide customers with further innovative and comprehensive
equipment solutions for their farming needs in tillage, seeding and Hay & Forage
CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector
with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands
belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and
Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial
vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for
firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and
transmissions. More information can be found on the corporate website: www.cnhindustrial.com
Media contacts:
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Richard Gadeselli
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Laura Overall
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Corporate Communications - Global
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Corporate Communications Manager
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CNH Industrial
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CNH Industrial
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Tel: +44 (0)2077 660 346
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Tel. +44 (0)2077 660
338
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Email: mediarelations@cnhind.com
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www.cnhindustrial.com
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