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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 JUNE, 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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[CNH LOGO]
NEWS RELEASE
For Immediate Release
CNH REACHES AGREEMENT FOR REQUIRED
DIVESTITURE OF TRACTOR LINES AND PLANT
For more Racine, Wisconsin (June 16, 2000) - CNH Global (N:CNH)
information contact: announced today that it has reached an agreement for
the sale of the New Holland Versatile, Genesis and G/70
series four-wheel and two-wheel drive tractor lines,
William B. Masterson together with the Winnipeg, Canada, plant in which they
01 262 636 5793 are made, to Buhler Versatile Inc., a subsidiary of
Buhler Industries, Inc. (TSE:BUI).
Under the agreement, which is subject to approval by
the U.S. Department of Justice, Buhler will supply the
worldwide New Holland commercial organization with
these tractor lines until October 31, 2001, and the
Genesis and G/70 series tractors to markets outside of
North America until December 31, 2002. Buhler also will
supply Winnipeg-produced replacement parts for the
tractor lines to the New Holland organization on an
ongoing basis. In addition, CNH reached an agreement
with Buhler to manufacture New Holland's
Bidirectional(TM) tractor, the TV140, for exclusive
distribution by New Holland. CNH retains all commercial
rights to this tractor line.
CNH also retains the patented SuperSteer design
technology that gives New Holland tractors superior
turning radius capability as well as improved traction
and stability. CNH will license this technology to
Buhler for use on Versatile, Genesis and 70 series
tractors, but it will also integrate the SuperSteer
design into development of future New Holland-brand
tractor models.
"Ensuring a continued supply of products and
replacement parts for dealers and customers has been a
primary objective for us throughout all of our
divestment negotiations," said Jean-Pierre Rosso, CNH
chairman and chief executive officer. "We were
successful in achieving this in our agreement with
Buhler and, as a result, New Holland dealers and
customers will have access to these products, which
will continue to be produced at the Winnipeg plant.
"Longer term, we will have a new generation tractor
line for the New Holland brand with differentiated
features specifically for New Holland customers.
Development of this tractor family has already begun in
support of CNH's multiple-brand, multiple-distribution
strategy."
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This divestiture agreement is in compliance with the
terms set by the Department of Justice for approval of
the business merger of Case Corporation and New Holland
in November 1999, creating CNH Global. This sale
agreement is also subject to resolution of issues with
the government in Canada. The company expects its
supply agreements with Buhler to qualify under Canada's
Industrial Regional Benefits program.
To date, CNH has completed several of its agreed upon
divestment actions, including the sale of the Breganze,
Italy, facility and the Laverda non-hillside combine,
along with the commercial and manufacturing rights for
large square balers in Western Europe and two compact
tractor models in Austria. CNH has also sold its
interests in Hay & Forage Industries in Hesston,
Kansas. In addition to the Versatile and Genesis
tractor lines and the Winnipeg plant, the company
continues to pursue divestiture of its Case IH CX and
MXc tractors lines and Doncaster, England, plant, as
well as its Fermec construction equipment business.
With strong global brands, CNH is a leader in the
agricultural equipment, construction equipment and
financial services industries and had combined 1998
revenues of approximately $12 billion. CNH sells its
products in 160 markets through a network of more than
10,000 dealers and distributors. CNH products are sold
under the following brands: Case, Case IH, Fermec,
Fiatallis, Fiat-Hitachi, Link-Belt (earth-moving
equipment), New Holland, O&K and Steyr.
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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
Vice President, Associate General
Counsel and Assistant Secretary
June 20, 2000
