CNH has signed a Memorandum of Understanding with the state of Minas Gerais (Brazil) to lay the groundwork for a R$600-million investment in a new construction equipment plant in Montes Claros, in the northern region of Minas Gerais. The Memorandum was signed at Fiat Industrial's headquarters in Turin, Italy, during a visit by a Minas Gerais state government delegation, led by Governor Antonio Anastasia.
"This agreement strengthens our ties to the state of Minas Gerais and reconfirms a commitment started 40 years ago with Fiat's first investments in the region. Minas Gerais holds a prominent place in the Brazilian economy and therefore is an ideal location for Fiat Industrial, and for CNH in particular, to grow in Brazil," said Sergio Marchionne, Chairman of Fiat Industrial and CNH.
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