We are a leading global capital goods company engaged in the design, production,
marketing, sale and financing of agricultural and construction equipment, trucks,
commercial vehicles, buses and specialty vehicles for firefighting, defense
and other uses, as well as engines, transmissions and axles for those vehicles
and engines for marine and power generation applications. We have industrial
and financial services companies located in 45 countries and a commercial presence
in approximately 190 countries around the world.
Agricultural Equipment which designs, manufactures and distributes a full line
of farm machinery and implements, including two-wheel and four-wheel drive tractors,
crawler tractors (Quadtrac®), combines, cotton pickers, grape and sugar
cane harvesters, hay and forage equipment, planting and seeding equipment, soil
preparation and cultivation implements and material handling equipment. Agricultural
equipment is sold under the New Holland Agriculture and Case IH Agriculture
brands, as well as the Steyr brand in Europe. Subsequent to our acquisition
of substantially all of the assets of Miller-St. Nazianz Inc. (“Miller”)
in November 2014, certain agricultural equipment products are also sold under
the Miller brand, primarily in North America.
Construction Equipment which designs, manufactures and distributes a full line
of construction equipment including excavators, crawler dozers, graders, wheel
loaders, backhoe loaders, skid steer loaders, telehandlers and trenchers. Construction
equipment is sold under the New Holland Construction and Case Construction brands.
Commercial Vehicles which designs, produces and sells a full range of light,
medium and heavy vehicles for the transportation and distribution of goods through
the Iveco brand, commuter buses and touring coaches through the Iveco Bus (previously
Iveco Irisbus) and Heuliez Bus brands, quarry and mining equipment through Iveco
Astra, firefighting vehicles through the Magirus brand and vehicles for civil
defense and peace-keeping missions under the Iveco Defence Vehicles brand.
Powertrain which designs, manufactures and offers a range of propulsion and
transmission systems and axles for on- and off-road applications, as well as
engines for marine application and power generation through the FPT Industrial
brand.
Financial Services which offers a range of financial services to dealers and
customers. Financial Services provides and administers retail financing to customers
for the purchase or lease of new and used industrial equipment or vehicles and
other equipment sold by CNH Industrial dealers. In addition, Financial Services
provides wholesale financing to CNH Industrial dealers. Wholesale financing
consists primarily of floor plan financing and allows the dealers to purchase
and maintain a representative inventory of products.
Agricultural Equipment
The product lines of Agricultural Equipment are sold primarily under the Case
IH and New Holland brands and under the Steyr brand in Europe. Subsequent to
our acquisition of substantially all of the assets of Miller in November 2014,
certain agricultural equipment products are also sold under the Miller brand,
primarily in North America. In order to capitalize on customer loyalty to dealers
and the segment’s brands, relative distribution strengths and historical
brand identities, the segment will continue to use the Case IH (and Steyr for
tractors in Europe only) and New Holland brands. We believe that these brands
enjoy high levels of brand identification and loyalty among both customers and
dealers.
Although newer generation tractors have a high percentage of common mechanical
components, each brand and product remains differentiated by features, color,
interior and exterior styling and model designation. Flagship products such
as row crop tractors and large combine harvesters may have significantly greater
differentiation.
Distinctive features that are specific to a particular brand such as the Supersteer®
tractor axle or Twin Rotor combine threshing technology for New Holland, the
Case IH tracked four wheel drive tractor, Quadtrac®, and the front axle
mounted hitch for Steyr remain an important part of each brand’s unique
identity.
The Agricultural Equipment business product lines include tractors, combine
harvesters, hay and forage equipment, seeding and planting equipment, and sprayers.
The Agricultural Equipment business also specializes in other key market segments
like cotton picker packagers and sugar cane harvesters, where Case IH is a worldwide
leader, and in self-propelled grape harvesters, where New Holland is a worldwide
leader. These brands each offer parts and support services for all of their
product lines. Our agricultural equipment is sold with a limited warranty that
typically runs from one (1) to three (3) years.
On November 26, 2014, we completed the acquisition of Miller, a leading manufacturer
of precision spraying equipment that is now part of the New Holland brand, providing
a strong platform to grow the self-propelled sprayer business on a global scale.
Construction Equipment
Construction Equipment’s product lines are sold primarily under the Case
and New Holland Construction brands. Case provides a wide range of products
on a global scale, including a crawler excavator that utilizes technology from
Sumitomo (S.H.I.) Construction Machinery Co. Ltd. The New Holland Construction
brand family also markets a full product line of construction equipment in most
regions.
On May 12, 2014, we entered into a new licensing agreement with Sumitomo (S.H.I.)
Construction Machinery Co. Ltd., a wholly owned subsidiary of Sumitomo Heavy
Industries, Ltd. Under this new technology license and component supply agreement,
we anticipate that we will manufacture Sumitomo designed crawler excavators
(models ranging from 13 to 35 tons) at designated plants within our manufacturing
network. Start of production of the new localized models is planned for mid-2015.
This agreement also extends the existing Global Product Supply agreement between
us and Sumitomo (S.H.I.) Construction Machinery Co. Ltd. for the sourcing of
excavators manufactured in Sumitomo plants. Since 1992, Sumitomo has been a
supplier to our global distribution network of excavators ranging from 7 to
80 tons.
Construction Equipment products often share common components to achieve economies
of scale in manufacturing, purchasing and development. Construction Equipment
differentiates these products based on the relative product value and volume
in areas such as technology, design concept, productivity, product serviceability,
color and styling to preserve the unique identity of each brand.
Heavy construction equipment product lines include crawler and wheeled excavators,
wheel loaders, compactors, graders and dozers for all applications. Light construction
equipment product lines include backhoe loaders, skid steer and tracked loaders,
mini and midi excavators, compact wheel loaders and telehandlers. The brands
each offer parts and support services for all of their product lines. Our construction
equipment is generally sold with a limited warranty that typically runs from
one (1) to two (2) years.
Effective December 31, 2012, the initial term of our global alliance with KCM
and Kobe Steel Ltd (“KSL”) expired, and we entered a new phase of
non-exclusive licensing and supply agreements. Subject to the terms of existing
agreements, we continue to manufacture excavators, based on current Kobelco
technology, in our plants and purchase select models of whole goods from KCM
as well as component parts and will be able to do so until at least December
31, 2017. With the end of the initial term of the global alliance, we sold our
20% ownership interest in KCM to KSL and unwound the co-ownership with KCM of
certain companies formed in connection with the global alliance. In addition,
the territory and marketing restrictions in the Americas and EMEA expired on
December 31, 2012 and such restrictions expired in APAC on July 31, 2013.
We continue to evaluate our Construction Equipment business with a view toward
increasing efficiencies and profitability as well as evaluating its strategic
alliances to leverage its position in key markets.
Commercial Vehicles
Trucks and Commercial Vehicles (Iveco)
Under the Iveco brand, we produce a series of light, medium and heavy transport
vehicles for urban, intercity and off-road use.
Light vehicles include on-road vans and chassis cabs used for short and medium
distance transportation and distribution of goods, as well as off-road trucks
for use in quarries and other work sites. We also offer shuttle vehicles used
by public transportation authorities, tourist operators, hotels and sports clubs
and campers for holiday travel.
The medium and heavy vehicles product lines include on-road chassis cabs designed
for medium and long distance hauling and distribution. Medium GVW off-road models
are typically used for building roads, winter road maintenance, construction,
transportation, maintenance of power lines and other installations in off-road
areas, civil protection and roadside emergency service. Heavy GVW off-road models
are designed to operate in any climate and on any terrain and are typically
used to transport construction plant and materials, transport and mix concrete,
maintain roads in winter and transport exceptionally heavy loads.
The key players in our product line-up are the Daily with GVW available from
2.8 to 7 tons, the Eurocargo from 6 to 16 tons, the Trakker (dedicated to off-road
missions) and the Stralis, both over 16 tons. The product offering is complemented
by a series of aftersales and used vehicle assistance services.
We offer ecological diesel and natural gas engines on our entire range of vehicles,
developing engines with specific components and configurations optimized for
use with compressed natural gas (“CNG”) and liquefied natural gas
(“LNG”).
Under the Iveco Astra brand we build vehicles that can enter otherwise inaccessible
quarries and mines and move large quantities of material, such as rock or mud,
and perform heavy-duty tasks in extreme climatic conditions. Our product range
for Iveco Astra includes mining and construction vehicles, rigid and articulated
dump trucks and other special vehicles.
Buses (Iveco Bus and Heuliez Bus)
Under the Iveco Bus and Heuliez Bus brands, we offer local and inter-city commuter
buses, minibuses, school buses and tourism coaches. Iveco Bus is one of the
major European manufactures in the passenger transport sector and is steadily
expanding its activities globally. Heuliez Bus produces city buses for public
transportation, and is a leader in France for the urban bus market.
Specialty Vehicles (Magirus and Iveco Defence Vehicles)
Under the Magirus brand, we manufacture vehicles designed to respond to natural
disasters and civil emergencies, such as fires, floods, earthquakes and explosions.
Iveco Defence Vehicles develops and manufactures specialized vehicles for defense
missions and civil protection.
Powertrain
Powertrain is dedicated to the design, development, manufacture and sale of
engines, transmissions and axles under the FPT Industrial brand.
Our product range features engines ranging from 2.2 to 20 liters with an output
of 15 to 1,006 hp. Our product portfolio includes engines for buses and for
light, medium and heavy commercial vehicles, engines for industrial machinery
including construction, agricultural and irrigation equipment, engines for special-purpose
vehicles and engines for power generation units and marine applications. The
range is completed by engine versions which use alternative fuels, including
those running on natural gas and engines compatible with biodiesel up to 20%.
To meet the increasingly strict emission regulations for both on-road (Euro
VI and EPA 13) and off-road vehicles (Stage IV and Tier 4B), Powertrain’s
technological solutions strive to provide enhanced results in terms of cost,
packaging and fuel consumption for each segment of the market. For example,
Powertrain offers an external exhaust gas recirculation system combined with
a diesel particulate filter for engines up to 205 hp for application on light
commercial vehicles. For heavy-duty commercial applications, Powertrain has
developed a high efficiency selective catalyst reduction system (HI-eSCR), which
processes exhaust gases using a catalyzing liquid, lowering operating and maintenance
costs. This unique SCR-only solution is capable of meeting required emissions
levels without the cost and bulk of an exhaust gas recirculation valve, and,
in particular, for the off-road market, this solution is maintenance-free (no
diesel particulate filter is required).
Additionally, Powertrain produces a wide range of manual transmissions for light
commercial vehicles, having either five or six gears, and ranging from 320 to
500 Nm. Our Powertrain segment boasts an extensive range of axle products to
meet all customer requirements, including axle products for commercial vehicles,
such as the Daily, and axle products for heavy mining, construction and specialty
vehicles (military and fire-fighting) designed by Commercial Vehicles.