CNH INDUSTRIAL N.V. - CNHI STOCK NEWS

IVECO and Nikola Corporation have inaugurated a manufacturing facility in Ulm, Germany, dedicated to producing the Nikola Tre electric heavy-duty trucks. This facility, expected to begin production by the end of 2021, symbolizes a significant milestone for both companies, showcasing their commitment to sustainable transportation. The initial models will be delivered in the U.S. in 2022, while a fuel cell electric vehicle (FCEV) prototype will enter production by late 2023. With a capacity to manufacture around 1,000 units per shift annually, this site underscores a major investment aimed at advancing zero-emission transport solutions.

CNH Industrial (NYSE: CNHI) has appointed Francesco Tanzi as Chief Financial Officer of the Iveco Group, effective January 1, 2022. This follows the planned spin-off of the Iveco Group from CNH Industrial, set to commence independent operations in early 2022. Tanzi brings over 30 years of finance experience, previously serving as CFO at Pirelli for 12 years. The move aims to strengthen the leadership team as it prepares for the transition. Gerrit Marx, President of Commercial & Specialty Vehicles at CNH Industrial, expressed confidence in Tanzi's ability to drive financial success.

CNH Industrial N.V. (NYSE: CNHI) has announced the acquisition of 90% of Sampierana S.p.A. for €101.8 million, aiming to boost its construction segment capabilities and market presence. The deal allows CNH to fully control Sampierana within four years. This acquisition will enhance CNH's product offerings, particularly in mini and midi excavators, supporting its growth strategy in high-demand markets. The closing is expected in Q4 2021, pending customary conditions.

IVECO BUS has secured a significant order for 180 electric buses from Île-de-France Mobilités and RATP, enhancing its commitment to environmentally friendly public transport. This follows the 247 electric buses already in operation, making IVECO BUS the primary supplier for RATP. The buses will support the Bus 2025 plan by improving air quality and reducing greenhouse gas emissions. They feature various charging options and are produced at HEULIEZ's electromobility center in France, underscoring CNH Industrial's investment in alternative fuel vehicles.

CNH Industrial reported robust second quarter 2021 results with consolidated revenues of $8.9 billion, marking a 60% increase year-over-year. Net income reached $699 million, and adjusted diluted EPS was $0.42. The company achieved $1.0 billion in free cash flow, reflecting strong operating performance. Net sales of Industrial Activities hit $8,490 million, up 65%. All segments showed positive growth, with notable performance in Agriculture at a 14.7% adjusted EBIT margin. Available liquidity stood at $14.4 billion as of June 30, 2021.

CNH Industrial has announced that its FPT Industrial engine manufacturing facility in Bourbon-Lancy, France, achieved Gold Level designation in the World Class Manufacturing (WCM) program. This recognition makes it the third CNH Industrial site to receive this accolade, following plants in Spain. The Bourbon-Lancy factory specializes in the Cursor engine series with a capacity of 80,000 engines per year, while emphasizing sustainability in its operations. The WCM program aims for continuous improvement and waste elimination across manufacturing processes.

CNH Industrial (NYSE: CNHI) honored the 2021 winners of the Sergio Marchionne Student Achievement Awards in North America, celebrating academic excellence among children of employees. The program has recognized over 40,000 students since its inception in 1996. The 17 winners, selected for outstanding academics and community contributions, were congratulated in a virtual ceremony by Chair Suzanne Heywood and CEO Scott Wine. CNH Industrial operates 12 manufacturing plants and 12 R&D centers in North America, producing a diverse range of vehicles and capital goods.