CNH Industrial completes sale of Russia business for 60 million dollars while continuing to manage a limited workforce
CNH Industrial, the world-leading maker of agricultural machinery with its headquarters in London, disclosed that its Russian operation has been sold for 60 million dollars. The company did not publicly name the buyer. In March 2022, CNH Industrial paused the shipment and delivery of its products into Russia as global tensions and regulatory constraints mounted, but the firm continued meeting payroll for its staff during the interim period. The decision to divest came after a strategy review of non-core assets in the region and follows a period of reduced activity in Russian markets. The sale represents a phase in CNH Industrial’s broader approach to portfolio optimization while sustaining essential operations for remaining personnel in the country. Cited from CNH Industrial press release.
Within Russia, CNH Industrial previously operated a corporate office in the Moscow region that handled import and distribution of its agricultural and construction machinery. The site also included a storage zone for equipment and a warehouse dedicated to spare parts, supporting service and parts availability for customers. Around 200 employees formed the local Russia team, contributing to regional sales, customer service, and after-sales support, even as the broader market faced ongoing sanctions and import controls. The company has maintained payroll and compliance during and after the transition, ensuring continuity for essential roles while the market evolves. Cited from CNH Industrial press release.
Financial results from the Russian operation in the prior year showed revenue approaching 380 million dollars, which accounted for a modest portion of CNH Industrial’s consolidated revenue. The operational footprint in Russia represented a meaningful market presence, reflecting the company’s historical emphasis on regional distribution networks and service infrastructure designed to support a wide range of agricultural equipment and spare parts. The recent sale aligns with strategic priorities while acknowledging the importance of sustaining critical local employment and service capabilities during the transition. Cited from CNH Industrial press release.
In related market movements, another major American consumer brand, Yum! Brands, announced the completion of the exit from the Russian market by selling the KFC business to Smart Service, marking a notable shift in the regional fast casual dining landscape. The exit underscores the broader pattern of multinational corporations reassessing footprints in the region in response to evolving regulatory, economic, and geopolitical factors impacting international operations. Cited from Yum! Brands corporate update.