CNH INDUSTRIAL N.V. - CNHI STOCK NEWS

On September 28, 2020, CNH Industrial N.V. (NYSE: CNHI) announced the immediate resignation of board member Nelda J. Connors. Connors, who also served on the Audit Committee, cited her inability to commit sufficient time due to existing executive responsibilities. CNH Industrial is a global leader in capital goods, operating various brands in sectors including agriculture, construction, and commercial vehicles. Her resignation raises questions about board continuity and leadership impact.

CNH Industrial's logistics team has innovatively addressed the challenge of transporting large combine harvesters from Zeebrugge, Belgium, across Europe by reverting to water transport on the Danube River. Weighing up to 24,500 kilos, these machines are difficult to transport by road. The company drew inspiration from the Danube's historical significance in freight shipping, enabling a more cost-effective and environmentally friendly transport solution. This initiative aligns with CNH Industrial's commitment to reducing its carbon footprint through sustainable practices.

CNH Industrial reported consolidated revenues of $5.6 billion for Q2 2020, a 26% decline year-on-year, primarily due to COVID-19 impacts. The company recorded a net income of $361 million but faced an adjusted net loss of $85 million. Despite the challenges, free cash flow was positive at $97 million, and available liquidity remained strong at $11.5 billion. Notably, CNH faced a net debt of $2.3 billion and a rating change from Fitch, now stable from positive.

CNH Industrial is driving the revival of hemp cultivation in North America through innovative projects and partnerships, notably with the National Hemp Association. This initiative seeks to educate potential suppliers about hemp's benefits as a sustainable crop. The article discusses hemp's historical significance, misconceptions, and New Holland Agriculture's role in promoting it as a commodity crop. With a focus on sustainable practices, CNH Industrial aims to combat climate change while supporting the hemp industry’s return, enhancing its agricultural portfolio.

CNH Industrial is enhancing agricultural productivity in Brazil through its leadership role in the ConectarAGRO initiative, which aims to provide internet access to rural areas. The company aims to connect 13 million hectares by 2021, following a successful expansion covering over 5.1 million hectares. This connectivity can boost productivity by up to 20%, aiding logistic efficiency and reducing operational costs. By enabling automation and servitization, CNH Industrial is positioned to strengthen agribusiness in Brazil.

CNH Industrial is planning to enhance its local presence by acquiring four divisions of Capital Equipment Group, previously owned by Invicta Holdings. These divisions include Northmec, CSE, NHSA, and Landboupart, which will be part of a fully-owned legal entity in South Africa. The acquisition, pending approval from the Competition Commission, aims to strengthen CNH Industrial's distribution network and market position in agriculture and construction equipment sectors across Southern Africa. This strategic move marks an important step in expanding the company's operational footprint in key markets.

CNH Industrial (NYSE: CNHI) announced the 2020 Sergio Marchionne Student Achievement Awards winners for North America, recognizing the academic excellence and community service of employees' children. Since 1996, over 40,000 students have received awards. The presentation was postponed due to COVID-19, with executives delivering video messages to the winners. The winners, selected for exceptional achievements, include 17 students across various categories. CNH Industrial has a global presence with 12 manufacturing plants and a workforce of 8,500 in North America.