FIAT to plough up all Russia

Deals

FIAT-controlled Case New Holland has declared the intention to set up tractor production facilities in Russia. It is the third project of such kind announced this summer – Italian Landini and Canadian Buhler are also expected to launch the production.

Russia’s Agriculture Minister Alexey Gordeev met Case New Holland Vice President Franco Fusignani Friday to discuss possible construction of a tractor manufacturer in Russia. Case New Holland will elaborate feasibility study by the next get-together of Gordeev and representatives of consortium, Interfax reported. Next time, the parties will meet this fall, sources with the ministry specified. Russia’s office of FIAT (FIAT has a majority stake in Case New Holland) couldn’t be reached for comment.

Case New Holland makes road-building and agricultural machinery. It works in more than 160 states of the world; 2006 revenues stood at $12.1 billion, net profits equaled $292 million. The future undertaking of Case New Holland is the third project of tractor construction that emerged in Russia in the last months. KamAZ, for instance, is willing to create a venture with Italian Landini to assemble tractors at its facilities. Rostselmash announced the acquisition of Buhler, which is the Canadian manufacturer of tractors, and the analysts expect Buhler assembly to be localized in Russia. (kommersant.com)

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