CNH Industrial, the world’s largest agricultural machinery manufacturer headquartered in London, announced that it has sold its business in Russia for $60 million. published on your site
The company did not specify who exactly purchased the asset. In March 2022, CNH Industrial suspended the delivery of its products to Russia. Since then, as the company stated, employees have been paid salaries.
CNH Industrial had a corporate office in the Moscow region where they dealt with the import and distribution of products in Russia. The company also had a zone for the storage of agricultural and construction equipment and a warehouse for spare parts. About 200 employees were employed in the company’s Russia business.
In 2021, the business in Russia brought the company in revenue of approximately $380 million (2% of CNH Industrial’s consolidated revenue for the reporting period).
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