CNH Global N.V.'s (CNH) fourth-quarter earnings rose 1% as increased sales of agricultural equipment helped mitigate weaker construction equipment sales.
CNH, the world's second-largest maker of farm machinery behind Deere & Co. (DE), has seen improved profits over the past year as record high grain prices gave CNH's base of largely row-crop farmers more money to spend on equipment.
Meanwhile, Italy's Fiat Industrial SpA (FI.MI) agreed in November to acquire the 12% of CNH it doesn't already own in a stock deal worth roughly $1.48 billion at the time. The companies expect to complete the merger in the second quarter.
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