CNH Industrial inks deal for excavator manufacturer Sampierana
CNH Industrial, the parent company of CASE and New Holland Construction, has signed an agreement to acquire Italian excavator manufacturer Sampierana S.p.A. The privately owned company specializes in development, manufacturing and commercialization of earthmoving machines, undercarriages and spare parts.
Sampierana Group is known for its line of Eurocomach mini and midi excavators, as well as for special undercarriages. It has been acknowledged for its reliability, quality and innovative technology. A broad product portfolio, high customization capacity and existing electric power prototypes fit well with CNH's customer-centric and sustainable approach, the company stated.
Under the agreement, CNH will purchase 90 percent of the capital stock in Sampierana, and over four years following closing obtain 100 percent control of the company. Total debt and cash free consideration for the transaction will be €101.8 million (approximately CDN$151 million).
"This latest strategic acquisition will further accelerate the profitable growth of our construction equipment business. Sampierana's exceptional portfolio solidifies our presence in critical market segments and provides our dealers and customers access to industry-leading products backed by our brand, distribution, and manufacturing experience," said Scott Wine, Chief Executive Officer of CNH Industrial.
As one of the latest models in the R2-Series excavator lineup, the Bobcat® E88 delivers durability, performance and quality for more productivity. Technically speaking, it's a compact machine, but it brings big performance with its redesigned engine and optimized lift performance, plus undercarriage and counterweight improvements. All these enhancements make this excavator one of the highest-performing models in its size class. With impressive over-the-side lift capacity, you can dig with greater confidence over the side of the machine. Put it to the test against similar models from other manufacturers. You'll see that the E88 can outwork the competition.