Statement from CNH Industrial
On April 17, 2021, CNH Industrial announced the termination of discussions with FAW Jiefang regarding its On-Highway business.
Rhea-AI Summary
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.
Positive
- 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.
Negative
- Termination of discussions with FAW Jiefang may indicate lost opportunities for collaboration.
Details
News Market Reaction – CNHI
The recorded move for CNHI in the trading session of this news was -3.69%.
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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
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