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Article: CNH Global In Joint Venture Agreement ... Mahle Steps Up Involvement In China ... Bucher Hydraulics Combines Operations ... Bosch Assumes Management Of Mannesmann Rexroth AG.(briefs)(Brief Article)
- Article from:
- Diesel Progress North American Edition
- Article date:
- June 1, 2001
- Author:
CopyrightCOPYRIGHT 2001 Diesel & Gas Turbine Publications. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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CNH Global N.V. and Shanghai Tractor and Internal Combustion Engine Corp., a wholly owned subsidiary of Shanghai Automotive Industry Corp., announced the formation of a joint venture company to manufacture, distribute and ultimately export agricultural tractors under 100 hp. The agreement establishes Shanghai New Holland Agricultural Machinery Corp. Ltd., which will be based in Shanghai Tractor's existing facility. Annual output is expected to reach over 18,000 tractors and about 16,000 engines within five years. CNH will hold a 60 percent equity share and Shanghai Tractor will hold the remaining 40 percent equity share.
According to terms of the agreement, CNH ...