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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 MAY, 2000.
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- _______.)
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[CHN LOGO]
NEWS RELEASE
For Immediate Release
CHN REACHES AGREEMENT FOR REQUIRED
DIVESTITURE OF HAY AND FORAGE INDUSTRIES
For more Racine, Wisconsin (May 2, 2000) - CNH Global
information contact: (N:CNH) announced today that it has reached an
agreement for the sale of its interest in Hay and
Forage Industries (HFI) to AGCO Corporation
William B. Masterson (N:AG), subject to approval of the U.S. Department
01 262 636 5793 of Justice. The sale, which CNH agreed to under
terms set by the Department of Justice for
approval of the business merger of Case
Corporation and New Holland in November 1999, will
give AGCO sole ownership of HFI. Case and AGCO
have been joint venture partners in HFI since
1991.
Under the agreement, AGCO will continue to provide
Case IH-branded hay tool products to the Case IH
distribution network until March 31, 2001. In
addition, the companies have agreed to a long-term
arrangement for the supply of parts for Case IH
products produced at the HFI plant. CNH is
currently developing a separate Case IH line of
hay and forage products.
Full terms of the agreement were not disclosed.
The closing of the transaction is expected within
30 days.
CNH is successfully working toward complying with
all regulatory divestiture requirements in North
America and Europe. The company recently reached
an agreement with the A.R.G.O. Group in Italy for
the sale of the New Holland facility in Breganze,
Italy. The agreement is pending approval of the
European Commission.
In February, CNH completed the divestiture of the
Austrian commercial distribution rights of two of
its compact tractor models to Lindner
Traktorenwerk GesmbH, an Austrian agricultural
machinery maker. CNH will continue to produce the
Steyr model M-948 and M-958 and Case IH models CS
48/58 tractors at its Case Steyr plant in St.
Valentin, Austria. Under terms of the divestiture
agreement, the St. Valentin plant will supply
these tractors to Lindner, who has agreed to sell
these tractors to the Austrian Case IH and Steyr
dealer networks under their respective brands.
Lindner will also sell the tractors under its own
brand through its own dealers. The agreement was
approved by the European Commission and has
already been implemented.
- CNH Global N.V. Administrative Offices 700 State Street Racine,
WI 53404 U.S.A. http://www.cnh.com -
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"While addressing the requirements imposed by the
regulatory agencies, we have structured these
agreements in a manner that enables our dealers
and customers to continue to have access to these
products. In support of our multiple-brand,
multiple-distribution strategy, we are working on
common platform designs of our major equipment
lines to meet the long-term needs of our customers
with new, propietary products that will further
enhance their productivity and success," said
Jean-Pierre Rosso, CNH chairman and chief
executive officer. "We have had strong interest in
all of the products and operations that we agreed
to divest and our activities are proceeding as
planned."
With strong global brands, CNH is a leader in the
agricultural equipment, construction equipment and
financial services industries and had combined
1999 revenues of approximately $11 billion. 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 largest equipment finance companies in
the world. Based in the United States, CNH has
operations in 16 countries and sells its products
in 160 markets through a network of more than
10,000 dealers and distributors. CNH equipment is
sold under the following brands: Case, Case IH,
Fermec, Fiatallis, Fiat-Hitachi, Link-Belt (earth
moving equipment), New Holland, O&K and Steyr. CNH
offers a range of financial services under the
Case Credit, New Holland Credit, CNH Capital and
Soris 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/ Kevin J. Hallagan
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Kevin J. Hallagan
Assistant Secretary
May 2, 2000
