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.
Ag equipment manufacturers are taking steps to combat the spread of the coronavirus, officially referred to as COVID-19. Deere & Co., CNH Industrial, Alamo Group and others have all commented on planned actions and expected impacts as a result of the spread of the virus.
RCI has signed a definitive agreement to acquire the Ag-Bag product line from CNH Industrial America. Ag-Bag, based in St. Nazianz, Wis., is one of the largest manufacturers ag-bagging equipment for forages and other agricultural commodities.
CNH Industrial reported third quarter consolidated revenues of $6.4 billion, a year-over-year drop of 5%. Net sales of its agricultural segment dropped 7% vs. the third quarter of 2018.
CNH Industrial N.V. (NYSE: CNHI/MI: CNHI) has announced its agreement to acquire ATI Inc., a global manufacturer of rubber track systems for high horsepower tractors and combines.
DataConnect is the first direct, manufacturer-independent solution that enables the seamless, automatic and real-time exchange of machine data between the various machine brand platforms, including John Deere, Claas, CNH Industrial and 356FarmNet as part of the initiative.
Under the ‘Transform 2 Win’ strategy, CNH Industrial will reduce operating costs and increase the efficiency of its asset base through targeted restructuring actions and other charges condensed into an efficiency program and certain other initiatives including the 80/20 simplification process, initiated in 4Q 2018.
In this episode of On the Record, brought to you by Associated Equipment Distributors, Marc Johnson, principal with Pinion, provides 4 factors that will be important for dealers to watch in 2025 that will impact their business.
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