| Type | Public (NYSE: CNH) |
|---|---|
| Industry | Agricultural equipment Construction equipment Capital lending |
| Founded | 1999 |
| Headquarters | Burr Ridge, IL, USA |
| Key people | Sergio Marchionne, Chairman of the Board Richard Tobin, President and CEO |
| Revenue | US$ 15.6 billion(2010)[1] |
| Employees | 28,800 (2010)[1] |
| Parent | Fiat Industrial |
| Website | CNH.com |
CNH Global N.V. (NYSE: CNH) is a global, full line company operating in both the agricultural and construction equipment industries. CNH's scope includes integrated engineering, manufacturing, marketing and distribution of equipment on five continents. CNH's operations are organized into three business segments: agricultural equipment, construction equipment and financial services.
As of December 31, 2010, CNH manufactures its products in 40 facilities throughout the world and distributes its products in approximately 170 countries through approximately 11,300 full line dealers and distributors).[1]
CNH Global N.V. is incorporated in and under the laws of the Netherlands. The company was created on November 12, 1999 through the merger of New Holland N.V. and Case Corporation. CNH Global N.V. stock is listed on the New York Stock Exchange (NYSE:CNH). The company presents its financial results on a quarterly basis under U.S. Generally Accepted Accounting Principles (GAAP). CNH is majority-owned by Fiat Industrial S.p.A..
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CNH products are marketed globally through two brand families, Case and New Holland. Case IH (along with Steyr in Europe) and New Holland make up the agricultural brand family. Case and New Holland Construction (along with Kobelco in North America) make up the construction equipment brand family.[2]
In agricultural equipment, CNH is one of the leading global manufacturers of agricultural tractors and combines based on units sold and it has leading positions in hay and forage equipment and specialty harvesting equipment. For the year ended December 31, 2010, CNH sales of agricultural equipment represented 73% of net sales of equipment.[3]
Case IH has more than 160 years of heritage and experience in the agricultural industry; its range includes agricultural tractors, balers, coffee harvesters, combines, cotton pickers, planters, sugar cane harvesters, and tillage equipment, sold through a global network of dealers.[4]
New Holland Agriculture offers a full line of equipment, including agricultural tractors, balers, combines, forage harvesters, grape harvesters, hay tools, material handlers, planters, seeders, sprayers, tillage equipment and groundscare. New Holland has a worldwide presence in terms of manufacturing facilities, offices and its distribution network.[5]
Steyr is a more than 60-year-old agricultural brand from Austria and is specialized in tractors for the agricultural, forestry and municipal sectors.[6]
In construction equipment, CNH has a leading position in backhoe loaders and a strong position in skid steer loaders in North America and crawler excavators in Western Europe. In addition, each brand provides a complete range of replacement parts and services to support its equipment.[7] For the year ended December 31, 2010, CNH sales of construction equipment represented 18% of net sales of equipment.[3]
Case Construction Equipment offers a full line of construction equipment, including backhoe loaders, articulated trucks, crawler and wheeled excavators (including compact), telehandlers, motor graders, wheel loaders (including compact), vibratory compaction rollers, crawler dozers, skid steers, compact track loaders, tractor loaders and rough-terrain forklifts.[8]
New Holland Construction is a global, full-line construction equipment brand. The product range includes crawler and wheeled excavators, wheel loaders, backhoes loaders, skid steer loaders, dozers, telehandlers, mini-wheel loaders compact track loaders, mini and midi excavators and graders.[5]
Kobelco Construction Machinery America is a joint venture between subsidiaries of CNH and Kobelco Construction Machinery. It manufactures and markets a full line of compact, mid-size and full-size excavators ranging from 1.9 tons to 88 tons. Kobelco excavators are sold through over 250 distribution outlets in North America.[9]
CNH offers financial services under the brand name CNH Capital. CNH Capital offers financial products and services to dealers and customers in North America, Australia, Brazil and Western Europe. The principal products offered are retail financing for the purchase or lease of new and used CNH equipment and wholesale financing to its dealers. Wholesale financing consists primarily of floor plan financing and allows dealers to purchase and maintain a representative inventory of products.[10] The retail financing is offered in North America, Brazil, Australia and Europe through wholly owned subsidiaries and in Western Europe through the joint venture with BNP Paribas Lease Group.[11] As of December 31, 2010, Financial Services managed a portfolio of receivables of approximately $17.0 billion.[12]
CNH brands provide after-sales parts, service and support to their customers, both at the dealerships and in the field. Parts support is offered for items in their current product lines and past products, up to 20 years. Parts distribution is operated through parts depots present on all five continents.[13]
To strengthen CNH's brands’ operations in countries with strong growth potential, CNH International was established in 2007[14], responsible for the manufacture, sales, distribution and after-sales operations of agricultural and construction equipment in over 120 countries throughout Africa, the Middle East, the Commonwealth of Independent States, Asia and Oceania, encompassing Australia, China and India. With the Head office located in Switzerland, CNH International covers the territory through hubs, production facilities and dealer network. Activities related to marketing, financial, training and after-sales services are present in the hubs to support the agricultural and construction businesses. Hubs are located in Istanbul (Turkey), Moscow (Russia), Kiev (Ukraine), Tashkent (Uzbekistan), New Delhi (India) Shanghai (China), and Sydney (Australia) with Representative Offices in Johannesburg (South Africa) and Bangkok (Thailand).[15] They are stationed in each key area, often very close to the eight production plants and three research & development Centres dedicated to those markets. Some of the production facilities also manufacture and export machinery to Europe and the Americas. Company’s proximity to these markets gives it an edge in developing specialized and regionally relevant business models. As such CNH International collaborates with governments, international organizations, academic institutions and private firms in mechanization development projects, model farms and counseling activities. The company sells and distributes agricultural and construction machinery and provides services which include parts availability, technical assistance, training, know-how and financial services. CNH International is supported by a network of distributors and dealers totaling about 4,900 service points.
Case Construction equipment milestones[16]
Case IH milestones [17]
New Holland Agriculture milestones [18]
New Holland Construction milestones[19]
CNH milestones
1999: CNH was created in November 1999 through the business merger of Case Corporation and New Holland N.V.[7]
2000: CNH Global acquires all of the shares of Flexi-Coil Ltd., a Canadian agricultural equipment manufacturer based in Saskatoon, Saskatchewan. The acquisition completes a previous agreement between New Holland and Flexi-Coil to purchase a majority stake in the company over time. New Holland initially purchased 35 percent of Flexi-Coil in December of 1997. Flexi-Coil, which makes air seeding systems and tillage equipment, had net sales of approximately $67 million in 1999.[20]
2000: Paolo Monferino appointed President & Chief Executive Officer of CNH Global N.V.[21]
2001: CNH Global, Kobe Steel Ltd., and Kobelco Construction Machinery reach an agreement to form a global alliance for the marketing, development and production of crawler excavators worldwide. The alliance with Kobelco includes also distribution of CNH construction equipment in Japan and the Asia Pacific region.[22]
2002: CNH Global N.V. and BNP PARIBAS Lease Group (BPLG), the leasing arm of BNP PARIBAS, agree to a long term retail financing partnership across Europe. All the brands and commercial activities of CNH are covered, including Fiat-Kobelco.[23]
2002: CNH Global N.V. creates Fiat Kobelco Construction Machinery S.p.A. (Fiat Kobelco). CNH owns 75% of the new entity, Kobelco Construction Machinery Co. Ltd. (Japan) holds a 20% interest and Sumitomo Corporation maintains its 5% stake.[19]
2005: In Europe and Latin America, CNH rationalizes non-Case construction equipment brand families into one brand, New Holland Construction.[19]
2005: CNH Board elects Harold Boyanovsky as President & Chief Executive Officer of CNH Global N.V.[24]
2006: Sergio Marchionne is appointed Chairman of the Board of CNH Global N.V.[25]
2007: Case Construction Equipment and Hyundai Heavy Industries form a strategic alliance to produce a selected wheel loader size.[26]
April 2010: Fiat announces that CNH, Iveco and Fiat Powertrain Industrial & Marine will be separated from the auto business and listed in Milan stock exchange as Fiat Industrial. The separation is completed at the end of 2010.[27][28]
May 2010: CNH and KAMAZ finalize strategic alliance for the production and commercialization of agricultural and construction machinery in Russia[29]
January 1, 2011: CNH becomes part of Fiat Industrial S.p.A.
The board of directors of CNH currently has 10 members: Harold D. Boyanovsky, Edward A. Hiler, Lèo W. Houle, Rolf M. Jeker, Peter Kalantzis, John Lanaway, Kenneth Lipper, Sergio Marchionne, Paolo Monferino and Jaques Theurrilat.[7]
Sergio Marchionne was appointed Chief Executive Officer of Fiat S.p.A. in June 2004 (where he has served as a Board member since 2003), of Fiat Group Automobiles S.p.A. in February 2005 and of Chrysler Group LLC in June 2009. Mr. Marchionne was appointed Chairman of CNH Global N.V. in April 2006 and of Fiat Indutrial S.p.A. in July 2010. In January 2006 he was also elected Chairman of the European Automobile Manufacturers Association (ACEA). In 2006, he was nominated to be a "Cavaliere del Lavoro" by Italian President Giorgio Napolitano. In March 2006, he was appointed Chairman of CNH.
Richard Tobin began his career in GTE Corporation in Stamford, Connecticut (U.S.), as Vice President of International Marketing. He held business segment general management positions with Alusuisse-Lonza SA in Zurich, Switzerland, Alcan Aluminum of Montreal, Canada, SGS Group of Geneva, Switzerland[30]. He joined CNH in March 2010 as Chief Financial Officer[31] and is appointed President and CEO of CNH Global N.V. since 1st January 2012[32].
CNH has a network of more than 11,300 dealers and distributors spread across approximately 170 countries worldwide. Dealers are independent and not owned by CNH, with the exception of 12 dealerships in North America and Europe.[33] CNH's manufacturing base includes 40 facilities in Europe, Latin America, North America and Asia.[34]
North America:
Other European countries:
Asia and the Middle east:
As of December 31, 2010, net sales amount to approximately $ 14,474 billion.[35]
In 2010, CNH sales of agricultural equipment represented 73% of the net sales and sales of construction equipment represented 18% of the net sales.[36]
In the same period, 41% of the net sales of equipment were generated in North America, 23% in Western Europe, 19% in Latin America and 17% in the Rest of World.[36]
CNH Brands have received many awards and recognitions throughout the years. In 2009/2010, CNH Brands were awarded with:
For complete list see Case, Case IH, New Holland Agriculture, New Holland Construction, Steyr.
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