SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
FOR THE MONTH OF DECEMBER, 2001.
CNH GLOBAL N.V.
(TRANSLATION OF REGISTRANT'S NAME INTO ENGLISH)
WORLD TRADE CENTER
TOWER B, 10TH FLOOR
AMSTERDAM AIRPORT
THE NETHERLANDS
(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)
(Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.)
Yes No X
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(If "Yes" is marked, indicate below the file number assigned to
the registrant in connection with Rule 12g3-2(b): 82- _______.)
[CNH LOGO]
NEWS RELEASE
CNH Joint Venture with Shanghai Tractor & Internal Combustion Engine
Corporation Receives Government Approval
FOR MORE INFORMATION CONTACT:
JEFFREY T. WALSH Media Relations (1) 847 955 3939
SHANGHAI, China - (December 5, 2001) - CNH Global N.V. (NYSE: CNH) today
announced that the company's second joint venture in China has received its
business license from the Shanghai Industrial & Commercial Administration
Management Bureau of the People's Republic of China. The license grants
Shanghai New Holland Agricultural Machinery Corp., Ltd., full permission to
begin operations and conduct business in the People's Republic of China.
Shanghai New Holland Agricultural Machinery Corp., Ltd., was formed by an
agreement between Shanghai Tractor and Internal Combustion Engine
Corporation (STEC), a wholly-owned subsidiary of Shanghai Automotive
Industry Corporation (Group), and CNH's New Holland brand of agricultural
equipment. The joint venture company will manufacture, distribute and
ultimately export agricultural tractors under 100 horsepower.
"This new company is an alliance formed by two leaders. Together, we expect
to improve the mechanization of agriculture in China," said Paolo
Monferino, president and chief executive officer of CNH. "Shanghai Tractor
is the industry leader in China, has an excellent reputation and brings its
extensive knowledge of the market to Shanghai New Holland. CNH will share
the New Holland brand's technology and ultimately, its distribution
network. New Holland now has a full line presence in the People's Republic
of China and I expect this joint venture company will foster improved local
economic activity and increased farm productivity in the world's most
populous country."
"We expect our joint venture to capitalize on each party's advantages and
to share the resources of both sides to further develop the Chinese
agricultural industry and help farmers become more productive. We expect
the JV to participate in the process of globalization of the Chinese
economy and ultimately be a world-class supplier of agricultural
machinery," said Li Ji Rong, general manager of STEC.
When the board convenes for the first time on Tuesday, December 11,
directors are expected to confirm the new company's leadership by electing
Li Ji Rong as its chairman of the board, Jean-Marc Perrier as its vice
chairman, Lucio Catone as the company's managing
- CNH Global N.V. Administrative Offices 100 South Saunders Rd, Lake
Forest, IL 60045 U.S.A. http://www.cnh.com -
director and Shen Quan as the executive deputy general manager. In
addition, directors are expected to establish operating guidelines,
fiduciary policies and other matters.
It is expected that annual output at Shanghai New Holland will reach over
18,000 tractors and about 16,000 engines by 2007. CNH will hold a 60
percent equity share and Shanghai Tractor will hold the remaining 40
percent equity share. The joint venture company is based in Shanghai
Tractor's existing facility in Shanghai and will produce New Holland and
Shanghai Tractor branded tractors. CNH will share certain of its New
Holland tractor technology and will integrate Shanghai New Holland into its
global sourcing pattern. As the joint venture develops and market
conditions allow, CNH and Shanghai Tractor expect the joint venture to
introduce other agricultural equipment. Shanghai Tractor, a leading
manufacturer of 50-65 horsepower tractors in China, will open its
distribution network to the joint venture company.
With the formation of Shanghai New Holland, the New Holland brand will
produce the full range of agricultural tractor horsepower options within
China. In September 1999, the Harbin New Holland Beidahuang Tractor Ltd.,
joint venture was formed for the production of 100-180 horsepower tractors.
###
Shanghai Tractor & Internal Combustion Engine Corp., a wholly owned
subsidiary of Shanghai Automotive Industry Corporation (Group), is the
recognized leader in medium horsepower tractor applications and serves to
foster the increasing mechanization of farms throughout China. The company
has 80 percent market share in its related segment and has significant
expertise in medium horsepower tractor applications. Shanghai Brand
tractors are a well-known trade mark authorized by the Municipality of
Shanghai and in each of the last five years, have been awarded the title of
Shanghai Famous Brand Product and Customer Satisfaction Product.
CNH is the number one manufacturer of agricultural tractors and combines in
the world, the third largest maker of construction equipment, and has one
of the industry's largest equipment finance operations. Revenues in 2000
were over $10 billion. Based in the United States, CNH's network of dealers
and distributors operates in over 160 countries. CNH agricultural products
are sold under the Case IH, New Holland and Steyr brands. CNH construction
equipment is sold under the Case, Fiatallis, Fiat-Hitachi, Link-Belt, New
Holland, and O&K brands.
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SIGNATURES
PURSUANT TO THE REQUIREMENTS OF THE SECURITIES EXCHANGE ACT OF 1934, THE
REGISTRANT HAS DULY CAUSED THIS REPORT TO BE SIGNED ON ITS BEHALF BY THE
UNDERSIGNED, THEREUNTO DULY AUTHORIZED.
CNH Global N.V.
By: /s/ Marsha J. Eberhardt
---------------------------------
Marsha J. Eberhardt
Assistant Secretary
December 5, 2001