CNH INDUSTRIAL N.V. - CNHI STOCK NEWS

Assurant, a global business services company, has announced a partnership with CNH Industrial Capital to enhance equipment protection products for dealers in the U.S. and Canada. This collaboration aims to improve customer experience and product offerings, providing multiple insurance products such as the Purchased Protection Plan (PPP), Physical Damage Insurance (PDI), and Rental Damage Waiver (RDW). CNH Industrial will deliver an expanded PPP program in Canada. Assurant's expertise in equipment protection will complement CNH Industrial's established presence in the agricultural and construction sectors. This partnership leverages Assurant's capabilities, strengthened by its acquisition of EPG Insurance in 2020, to deliver industry-leading solutions. Overall, this initiative signifies a strategic move to enhance offerings for customers of iconic brands like Case IH and New Holland.

On April 19, 2023, CNH Industrial announced the divestiture of its business activities in Russia, totaling approximately $60 million. This decision follows the suspension of operations announced in March 2022. The divestiture will incur additional pre-tax charges of around $20 million. Historically, in 2021, CNH Industrial's Russian operations generated about $380 million, making up 2% of the company's consolidated revenue. Prior to the suspension, the company managed significant operations in Russia, employing around 200 employees. The announcement acknowledges former employees for their service during this transition.

CASE Construction Equipment announced a new leasing offer for its backhoe loader line at CONEXPO 2023. The Rock-Solid Guarantee provides a 36-month lease with a one-year full-machine warranty and powertrain protection for up to 48 months. Customers can opt to walk away after 12 months if unsatisfied. This initiative addresses the growing demand for versatile machines amidst a skilled labor shortage in North America. The featured model, CASE 580SV Construction King, is designed for material handling and comes with various attachments. The offer aims to support contractors and businesses in expanding their operational capabilities.

CNH Industrial has successfully delivered three special Case IH Steiger Quadtrac 500 tractors to Antarctica, supporting the operations of the Australian Antarctic Division (AAD). The tractors underwent modifications to adapt to the extreme conditions of their new environment. According to Jason Wood, High Horsepower Product Manager at Case IH, the performance of these machines has surpassed the expectations of AAD operators. This initiative aligns with CNH Industrial's mission to drive innovation and sustainability in its operations.

CNH Industrial, listed on NYSE:CNHI, is known for its commitment to providing advanced agricultural and construction equipment globally, with a focus on enhancing productivity and efficiency.

CNH Industrial has announced the launch of AGNITOR, a digital tool aimed at increasing student awareness of career opportunities in agriculture. Funded by the CNH Industrial Foundation, AGNITOR connects real-world professionals with students for virtual interactions about careers in food, agriculture, and natural resources (AFNR). This initiative, part of a broader effort by the Illinois Agri-Food Alliance to build a diverse talent pipeline, aims to inspire the next generation of leaders in the agri-food sector. The tool provides resources for students to explore career paths independently and has already seen positive engagement from CNH Industrial employees, exemplified by a virtual classroom visit that engaged students in discussions about careers in security architecture.

Banco CNH Industrial and New Holland Agriculture sponsored the 31st Curitiba Festival, the largest theater festival in Latin America, held in Curitiba, Brazil. The festival featured over 350 attractions, including theatrical productions, musicals, and workshops aimed at promoting access to culture. The companies' participation aligns with the UN's Sustainable Development Goals, particularly focusing on quality education and cultural democratization. Additionally, they organized a food collection for the Solidarity Union Project, aiding children with cancer treatment. The event also included the Guritiba Program and Cultural Caravan, promoting creativity and cultural access for young participants. Both executives emphasized the importance of culture in bringing communities together and enhancing social responsibility.