Statement from CNH Industrial
On April 17, 2021, CNH Industrial announced the termination of discussions with FAW Jiefang regarding its On-Highway business. The company is proceeding with plans for a spin-off of these operations in early 2022. CNH Industrial aims to enhance its On-Highway business by focusing on sustainable transport solutions and aligning with the EU's Green Deal objectives. The company is recognized as a global leader in capital goods, operating through various brands in sectors such as agriculture, construction, and commercial vehicles.
- Focus on sustainability aligns with EU Green Deal, indicating potential growth opportunities.
- Spin-off plans for On-Highway business could unlock value and enhance operational focus.
- Termination of discussions with FAW Jiefang may indicate lost opportunities for collaboration.
London, April 17, 2021
CNH Industrial confirms that it is has terminated discussions with FAW Jiefang with regard to the Company’s On-Highway business, and is continuing to pursue its existing plans for a spin-off of these activities in early 2022.
CNH Industrial believes there are significant opportunities to develop its On-Highway business by accelerating the deployment of ever more sustainable transport solutions and infrastructure, in line with the EU’s Green Deal ambitions.
CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com
Contacts:
Corporate Communications
Email: mediarelations@cnhind.com
Investor Relations
Email: investor.relations@cnhind.com
Attachment
FAQ
What did CNH Industrial announce on April 17, 2021?
What are CNH Industrial's plans for its On-Highway business?
How does CNH Industrial align with EU sustainability goals?
What impact does the spin-off have on CNH Industrial’s business?
