CNH Global is investing $100 million to build a new plant in Argentina, where it will build combines and tractors destined for the Latin American market. The 78,000-sq.ft. operation will produce a customized lineup of agricultural equipment, employing 600 at a site in Córdoba. The plan involves expanding a site already occupied by CNH parent company Fiat Industrial in Argentina’s second-largest city, in the center of the country.
Fiat Industrial is the holding company for the non-automotive assets of Fiat S.p.A. It holds an 89.3% share of CNH Global N.V., which manufactures the Case IH, New Holland, and Steyr agricultural equipment brands and Case, New Holland Construction, and Kobelco construction equipment lines. CNH Global is headquartered in Burr Ridge, Ill.
CNH indicates the combines to be produced at Córdoba will be its most powerful design for harvesting equipment, with the most advanced technology. The specialty tractors it plans will be its first of that type of equipment to be built in Latin America, powered by FPT Industrial engines also manufactured in region.
The launch of new local product lines may begin by late this year.
"Argentina will become a manufacturing hub in Latin America for these equipment lines," stated Fiat chairman Sergio Marchionne at the announcement of the plant project. . "This investment is key to our growth strategy in Latin America. It will provide more efficient access for Latin American customers to products that are currently imported and will also be positive for the Argentine economy."
Argentine President Cristina Fernández de Kirchner also attended the announcement.