CNH Acquires Indian JV
CNH Global NV announced that it has acquired full ownership of L&T – CASE Equipment Private Ltd., an unconsolidated joint venture established in 1999 with Larsen & Toubro Ltd. 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. No financial information was provided.
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 said it is confirming its commitment to a strong manufacturing base for its construction equipment business at the Pithampur plant, which is currently used to build backhoe loaders and vibratory compactors. In addition, the company said it will strengthen its sales network to meet the needs of construction businesses in local and export markets.
“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,” said Harold Boyanovsky, president and CEO, CNH Global NV. “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.”