Via Transportation Q3 Earnings Call Highlights
- On Monday, November 9, 2026, CNH Industrial N.V. announced an agreement to sell 70% of its Construction Equipment business to Kobelco Construction Machinery for $700 million, valuing the unit at $1 billion and retaining a 30% equity stake.
- Chair of the CNH Board of Directors Suzanne Heywood stated the divestiture advances CNH's 'Path to 2030' strategy to become a pure-play agriculture company, following the 2022 spin-off of the Iveco Group commercial vehicles business.
- Chief Executive Officer Gerrit Marx stated Kobelco is the 'ideal partner,' bringing technological expertise in hydraulic excavators, cranes, and K-DIVE remote operation technology to the new CE JV alongside CNH's global sales network.
- Proceeds from the $700 million cash consideration will strengthen CNH's balance sheet through debt reduction. Kobelco assumes majority ownership of the CE JV, with both parties subject to a three-year lock-up period before put-and-call arrangements take effect.
- Regulatory approvals pending, the transaction is expected to close by the end of 2027. CNH will remain a strategic partner to the CE JV, ensuring continuity for dealers and customers during the organizational transition.
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CNH announces $1 billion construction equipment deal; future of Fargo manufacturing plant unclear
FARGO, N.D. — CNH Industrial has announced a $1 billion agreement to establish a joint venture with Japan-based Kobelco Construction Machinery, a move that will shift the company’s focus toward agricultural equipment and technology while leaving uncertainty about the future of its manufacturing operation in Fargo. Under the agreement, Kobelco, a wholly owned subsidiary of Kobe Steel, will acquire a 70% stake in CNH’s construction equipment busin…
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