CNH to Cut Costs, Pursue Acquisitions CNH Global has announced that it expects to save as much as $500 million within four years of closing or selling at least 10 manufacturing facilities, and that it plans to pursue acquisitions in the construction equipment segment.
The Racine, Wis.-based company did not say when the plant closings will begin or where they will be.
CNH, created by New Holland's purchase last year of Case Corp., is developing "common platforms across its brands to reduce parts and factory capacity," said Ted French, chief financial officer and president of financial services. "The $500 million is only the first phase of our cost-cutting efforts. As we develop a common manufacturing platform, we will fundamentally reposition our product costs."
CNH, which had combined 1998 revenue of about $12 billion, is keeping the Case and New Holland brand names.
T&J Changes Name to Pow'R Gard T&J Manufacturing has changed its name to Pow'R Gard Generator Corp. and moved to a new production facility in Oshkosh, Wis.
The 120,000-square-foot plant will significantly increase capacity and streamline operations, according to Pow'R Gard chief executive officer Tom McGuire Jr. The plant, which opened Jan. 1, will manufacture portable, towable and standby generator units.
