Martedì, 25 Settembre 2018
TURIN

Fiat Industrial merger with CNH Global announced

English
© ANSA

Turin, July 9 - Fiat CEO Sergio Marchionne on
Tuesday announced the official merger of Fiat Industrial and
tractor giant CNH Global NV.
"The merger represents the beginning of a new industrial
era for the Fiat Group," said Marchionne, speaking before plant
workers in Val di Sangro, central Italy.
The new company, based in the Netherlands, is called CNH
Industrial NV.
Shares will trade in New York and eventually in Milan.
The merger will be completed by September this year,
according to the companies.
Fiat Industrial is a separate entity from Fiat's automotive
division.
At the start of 2011 Fiat spun off Fiat Industrial to hold
its non-automotive activities, which include the production of
trucks, commercial vehicles and buses, under the Iveco marque,
as well as the non-automotive sector of its Powertrain
subsidiary that develops engines and transmissions.

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