CNH completes divestiture of Versatile tractor lines and plant

Under the agreement, Buhler will supply the worldwide New Holland commercial organization with these tractor lines until October 31, 2001, and the Genesis and G/70 series tractors to markets outside of North America until December 31, 2002. Buhler also will supply Winnipeg-produced replacement parts for the tractor lines to the New Holland organization on an ongoing basis.

In addition, CNH reached an agreement with Buhler to manufacture New Holland's Bidirectionalä tractor, the TV140, for exclusive distribution by New Holland. CNH retains all commercial rights to this tractor line.

CNH has begun development of new generation four-wheel drive and over 140 horsepower tractor lines for the New Holland brand with features specifically for New Holland customers. The agreement with Buhler, ensures that, in the interim, New Holland dealers and customers will have an uninterrupted supply of products and replacement parts.

CNH retains the patented SuperSteer design technology that gives New Holland tractors superior turning radius capability as well as improved traction and stability. CNH will license this technology to Buhler for use on 70 series tractors. New Holland will continue to integrate the SuperSteer design into development of future New Holland-brand tractor models.