Case IH Lands Major Cotton Picker Contracts in China
27 Июль 2009
Case IH, a leading brand in the agricultural equipment business of CNH (NYSE:CNH) and Fiat Group (FIA.MI), recently signed two contracts totaling nearly $12 million with the Xinjiang Agriculture Cultivation Group (XACG) in China to supply 40 Case IH Model CPX620 cotton pickers.
The pickers, manufactured in Benson, Minn., will be delivered to Division 1 and Division 6 of XACG in the third quarter of 2008 in time for the cotton harvest in Xinjiang Province.
"As we look to expand our business in China, these new contracts represent a strong positive in that direction for our company," said Franco Fusignani, Chief Executive Officer of CNH International.
Case IH CPX620 cotton pickers harvest from both sides of the cotton plant, providing customers with the best harvesting efficiency on the market. The bigger basket capacity, automatic chassis lubrication and powered guide axle make the CPX620 more productive and more capable of working in different soil conditions in Xinjiang.
Joseph Samora, CNH Senior Vice President, said, "By providing loan guarantees on the new cotton picker contracts, the U.S. Ex-Im Bank continues to fulfill its stated mission of helping to create and maintain U.S. jobs. These contracts will have a positive impact directly affecting more than 1,400 employees at our plants in Benson, MN and Grand Island, NE.."