CNH Industrial, leading global agricultural machinery producer, exits Russia

20/04/2023

1 minute read

One of the world’s largest agricultural machinery manufacturers, CNH Industrial, announced its exit from Russia, according to the company’s press service. CNH Industrial, which owns companies such as Case and New Holland, has Russian assets valued at $60 million. The company’s facilities in Russia manufacture construction and agricultural equipment, as well as housing a warehouse for spare parts. Around 200 employees worked at these sites.

In the financial year of 2021, CNH Industrial’s revenue in Russia amounted to $380 million, constituting 2% of the company’s consolidated revenue. Furthermore, CNH Industrial has estimated additional costs of $20 million due to the alienation of assets in Russia.

You could close this page. Or you could join our community and help us produce more materials like this. We keep our reporting open and accessible to everyone because we believe in the power of free information. This is why our small, cost-effective team depends on the support of readers like you to bring deliver timely news, quality analysis, and on-the-ground reports about Russia's war against Ukraine and Ukraine's struggle to build a democratic society. A little bit goes a long way: for as little as the cost of one cup of coffee a month, you can help build bridges between Ukraine and the rest of the world, plus become a co-creator and vote for topics we should cover next. Become a patron or see other ways to support. Become a Patron!

To suggest a correction or clarification, write to us here

You can also highlight the text and press Ctrl + Enter