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CNH GLOBAL N.V. (CNH) --A newly merged firm created by the acquisition of Case Corp., which is headquartered in Racine, Wisc., for $4.60 billion cash by New Holland N.V. of The Netherlands was completed on November 12, 1999, and approved by the U.S. Department of Justice Antitrust Division and Commission of European Union, regulatory agencies. CNH Global is now a leading manufacturer of agricultural and construction equipment. CNH Global earnings contracted during 2000 to $381.0 million from the previous year’s $188.0 million. Company sales fell to $10.01 billion from $10.67 billion. It is the third largest equipment finance companies in the world. CNH Global now has operations in 16 countries and sells its products in 160 markets through a network of over 10,000 dealers and distributors. CNH Global products are sold under brand names that include, Case, Case IH, Fiatallis, Fermec, Fiat-Hitachi, Link-Belt, New Holland, O&K and Steyr. The former Case and New Holland were major North American producers of farm and construction machinery.

CNH Global, in consent pacts with regulatory agencies, sold its Fermec construction machinery assets to Terex Corp. (TEX) and its New Holland farm tractor assembly assets at Winnipeg, Man., to Buhler Industries Inc., as well as other assets that included a 50 per cent equity stake in the Hay & Forage Industries venture to partner Agco Corp. (AG).

In 2001, it agreed to spin off and swap part of its construction machinery assets into a venture with a unit of Kobe Steel Ltd. (Kobelco) in Japan.