CNH Industrial Announces New Licensing Agreement with Sumitomo (S.H.I.)
BASILDON, United Kingdom, April 28, 2014
BASILDON, United Kingdom, April 28, 2014 /PRNewswire/ --CNH Industrial N.V.
has agreed to enter into a new licensing agreement with Sumitomo (S.H.I.)
Construction Machinery Co. Ltd., a wholly owned subsidiary of Sumitomo Heavy
Under this new technology license and component supply agreement, CNH
Industrial will manufacture Sumitomo designed crawler excavators (models
ranging from 13 to 35 tonnes) at designated plants within its manufacturing
network. Start of production of the new localized models is planned for
This agreement also extends the existing Global Product Supply (OEM) agreement
between CNH Industrial and Sumitomo (S.H.I.) Construction Machinery for the
sourcing of excavators from Sumitomo plants.
Sumitomo has been a supplier to the CNH Industrial global distribution network
since 1992 for models ranging from 7 to 80 tonnes. This next step will further
strengthen the partnership between the two companies.
"With this new agreement CNH Industrial has completed the transition from its
previous dual source excavator strategy to a single global partner. This new
licensing agreement builds on our successful long-term relationship with
Sumitomo. It confirms CNH Industrial's intention to invest and leverage the
most advanced specialist players in the industry in order to provide customers
around the world with construction equipment that consistently delivers
performance and productivity," said Richard Tobin, CNH Industrial CEO and
Brand President of Case and New Holland Construction. "We are excited to
embark on this new phase of our partnership with Sumitomo (S.H.I.)
Construction Machinery as it secures our supply position in this important
product category and increases our manufacturing flexibility to meet the
demands of our customers."
"Sumitomo and CNH Industrial's relationship will reach a new stage as both
companies pursue synergies through this agreement. By maintaining and building
on the strong relationship between the two companies, we will aim to grow our
market share in the construction machinery sector," said Mikio Ide, President
of Sumitomo (S.H.I.) Construction Machinery.
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 Group
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
For more information contact:
CNH Industrial Corporate Communications
Tel: +44 (0)1268 292 992
SOURCE CNH Industrial N.V.
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