CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announced that it has completed its acquisition of a minority stake in Zasso Group AG, a global specialist in non-chemical weed and invasive plant management solutions using electrical power.
With more than 350 systems now installed around the world, this Australian developed and manufactured technology is now available to Australian and New Zealand farmers directly through the CNH Industrial dealer network.
CNH Industrial posted consolidated revenues of $5.6 billion in the second quarter of 2020, down 26% compared to the second quarter of 2019. In total, consolidated revenues were $5.6 billion for the second quarter of the current year, down 26% year-over-year compared to the second quarter of 2019.
Though dealers surveyed in 2020 indicated the lowest rate of decrease in brand loyalty yet, many also saw farmers more willing to prioritize quality dealer service over staying loyal to a specific color.
In addition to canvasing growers, Farm Equipment editors reached out to several dealers to ask how they perceived brand loyalty to have changed in recent years.
CNH Industrial reported on May 6 that its consolidated revenues for the first quarter 2020 ended March 31 were $5.5 billion, down 15% vs. the first quarter 2019. The company reported a net loss of $54 million compared to net income of $264 million for the same period last year.
According to multiple reports, ag equipment manufacturers are opening their facilities in North Dakota and will be implementing strict guidelines to create safer work environments for employees during the pandemic.
Rocky Mountain Dealerships (TSX:RME), Canada's largest agriculture equipment dealer, announced an update with respect to the impact from the COVID-19 virus outbreak on its current operations.
In response to a request from Borsa Italiana (the Italian Stock Exchange), CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) confirms that Hubertus Mühlhäuser resigned as CEO of CNH Industrial to pursue other interests.
The Board of CNH Industrial N.V. reached a unanimous decision and accepted the resignation of Hubertus Mühlhäuser as chief executive officer, who has left the Group with immediate effect. The Board thanked Mühlhäuser for his dedicated leadership, service and numerous contributions during his tenure.
Built on 90 years of expertise, Yetter Farm Equipment leads the agriculture industry in designing effective and innovative equipment for residue management, seedbed preparation, precision fertilizer placement, harvest attachments, strip-tillage, and more.
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