CNH Global Profits Up Slightly in Q4
CNH has seen improved profits over the past year thanks in part to record high grain prices giving farmers more money to spend on equipment
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.
