CNH Industrial completes the acquisition of four businesses of Capital Equipment Group (CEG). This transaction will enable the Company to expand its direct distribution network in southern Africa and drive continuous development of new and improved services for our customers in the region.
LUGANO, Switzerland, Jan. 12, 2021 (GLOBE NEWSWIRE) — CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announces that it has successfully concluded the deal to acquire the four businesses from CEG, a business unit of Humulani Marketing Pty Ltd, ultimately owned by Invicta Holdings Limited. The businesses to be acquired from CEG are: Case IH distributor Northmec; CASE Construction Equipment distributor CSE; spare parts distributor NHSA; and spare parts and implements distributor Landboupart.
While these four divisions will continue to do business under their established market identities, they are now an integral part of CNH Industrial and will continue to support the Company's dealer network and end users with their in–depth and longstanding knowledge of the local market.
The transaction enables CNH Industrial to consolidate the distribution of Case IH Agriculture, CASE Construction equipment and aftermarket services in South Africa. It will allow the Company to provide an enhanced customer experience throughout the entire pre–and–after sales cycle, and strengthen its position to further develop its presence in the region.
"The Republic of South Africa is one of the most important markets for CNH Industrial on the Continent. This investment is testament to our confidence in the agriculture and construction markets' potential. It also speaks to our commitment to growth in the Country, as well as across the wider southern Africa region," said Federico Bellotto, Head of Agriculture and Construction, CNH Industrial South Africa and Southern African Customs Union. "The new consolidated distribution and service structure will enable us to be more agile and responsive to the specific needs of local customers, strengthening all–round support and ensuring our product offering perfectly matches their specific requirements."
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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
Media contacts:
Nan Nie
Corporate Communications Manager AMEA & ANZ
Tel: +86 21 2082 2201
E–mail: media.amea@cnhind.com
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