Fiat CEO says no plans to sell CNH - yet...

[eagle107]

Here is a blurb from Reuters yesterday about CNH. Seems no plans to sell CNH yet, but who know for how long. Looks like Agco would like to buy CNH if the opportunity presents itself. Fiat seems to be having labor issues, poor performance in Europe and a downgrade of its debt rating; however, they have enough liquidity to deal with the debt downgrade. I would think that Fiat has to still be making money with CNH. Well I guess only time will tell if Fiat will keep CNH as it also has the deal with Chrysler.


Oct 19 (Reuters) - The chairman of Fiat Industrial ruled out on Wednesday selling the Italian group's stake in U.S. agricultural and construction equipment unit CNH Global .

The chairman of Fiat Industrial ruled out on Wednesday selling the Italian group's stake in U.S. agricultural and construction equipment unit CNH Global .

"The company is not up for sale, I have no intention of selling interests in CNH to somebody else," Sergio Marchionne told reporters in answer to a question on interest for CNH from U.S. farm equipment maker Agco Corp .

Agco chief executive reiterated in an interview with a German daily on Tuesday he would like to buy CNH, adding he had not been so far able to persuade Marchionne to sell.

Fiat Industrial, the truck and heavy equipment arm of Italian car maker's Fiat , owns 88.9 percent of CNH.

 

[Caliche]

Here is a blurb from Reuters yesterday about CNH. Seems no plans to sell CNH yet, but who know for how long. Looks like Agco would like to buy CNH if the opportunity presents itself. Fiat seems to be having labor issues, poor performance in Europe and a downgrade of its debt rating; however, they have enough liquidity to deal with the debt downgrade. I would think that Fiat has to still be making money with CNH. Well I guess only time will tell if Fiat will keep CNH as it also has the deal with Chrysler.


Oct 19 (Reuters) - The chairman of Fiat Industrial ruled out on Wednesday selling the Italian group's stake in U.S. agricultural and construction equipment unit CNH Global .

The chairman of Fiat Industrial ruled out on Wednesday selling the Italian group's stake in U.S. agricultural and construction equipment unit CNH Global .

"The company is not up for sale, I have no intention of selling interests in CNH to somebody else," Sergio Marchionne told reporters in answer to a question on interest for CNH from U.S. farm equipment maker Agco Corp .

Agco chief executive reiterated in an interview with a German daily on Tuesday he would like to buy CNH, adding he had not been so far able to persuade Marchionne to sell.

Fiat Industrial, the truck and heavy equipment arm of Italian car maker's Fiat , owns 88.9 percent of CNH.

Maybe they can get J-Lo to drive around a New Holland, like she does the Fiat ?

 

[EquipmentJunkie]

CNH is for sale...no doubt in my mind. Fiat Industrial and/or CNH will likely be cut apart at the current performations (brands) and not sold all at once in its entirity...besides, who really is big enough to swallow a bite as big as CNH? Nobody comes to mind.
By the way, CNH announcing the discontinuation of New Holland Construction in North America signals to me that any buyer of New Holland Construction will already have a vital and vibrant North American presence and needs a better global position.

 

[eagle107]

Case has always been a strong brand when it comes to construction equipment in North America so it would not surprise me if they move NH construction out of the North American market.

Below is a another blurb from Reuters today. Good news for CNH! CNH beat its earning estimates and the stock is starting to rise again!

-----Reuters-----
Oct 27 (Reuters) - CNH Global N.V. posted a higher-than-expected quarterly profit and said full-year revenue growth will be at the upper end of its prior forecast as it benefits from growing demand in agricultural and construction equipment markets.

Earlier this week, rival Agco posted a strong third quarter and raised its full-year outlook on the strength of its agriculture market.

CNH's third-quarter net income was $274 million, or $1.14 a share, compared with $83 million, or 35 cents a share, a year ago.

Excluding items, profit was $1.13 a share. Sales jumped 30 percent to $4.6 billion.

 

[sweep]

Sales jumped 30 percent to $4.6 billion.

Most of my clients have told me things are picking up-in nearly all types of business. Orders and bids and coming back and since I do enrollments I have been seeing employers bring back layed off employees in the last 4-6 months.

Our generations depression/recession I feel is turning the tide.

 

[MessickFarmEqu]

I don't think Agco could pull off a purchase of CNH, the company is too big. I heard rumblings before of Fiat spinning off CNH as its own company again. Apparently they see FIAT as dragging down the value of CNH's stock so a spin off would allow them to be valued on their own.

 

[RickB]

I don't think Agco could pull off a purchase of CNH, the company is too big. I heard rumblings before of Fiat spinning off CNH as its own company again. Apparently they see FIAT as dragging down the value of CNH's stock so a spin off would allow them to be valued on their own.

Of course they would wait until they have bled billions from CNH to fund an auto empire that is both expanding in North America and faltering in Europe.

I don't see the EU or US regulatory agencies allowing a merger/acquisition of AGCO and CNH without major divestiture of various segments of the collective pie.

If one reads the press releases carefully, there is no evidence of any meaningful discussions ever taking place.

And if and when it does happen, the general public, stockholders, and dealer network will all hear of it at the same time; when it is a done deal.

 

[whodat526]

if cnh does get sold kubota is going to be the one to by them

 

[EquipmentJunkie]

if cnh does get sold kubota is going to be the one to by them

I doubt it. Kubota is only about $1B in sales and CNH is about $6B.

 

[whodat526]

I doubt it. Kubota is only about $1B in sales and CNH is about $6B.

they was the top bid when fiat bought nh