CNH and LS Expand Tractor Partnership

CNH Industrial announces its intention to expand its longstanding partnership with LS Tractor - the agricultural tractor division of the OEM LS Mtron. The Memorandum of Understanding and the technical cooperation agreement signed aim at expanding the current cooperation with LS Tractor and delivering an extended product offering to capture greater market share and enhance our positioning in the compact tractor segment.

This expanded agreement sets forth the financial and industrial terms and conditions to localize the production of select compact tractor models at the CNH manufacturing site in Greater Noida, India and the LS Tractor manufacturing site in South Korea. This will leverage CNH's manufacturing capabilities and LS Tractor's components and engineering to increase our speed to market and deliver new solutions for our customers.

CNH expects that this extended product offering in compact tractors built at our Greater Noida plant will enable us to cater to a broader addressable market while leveraging the strength and competitive offering of our Indian supplier base.

LS Tractor is the existing commercial distributor for CNH's New Holland Agriculture brand in South Korea and has a long history of collaboration with CNH legacy brands stretching back over four decades. CNH Industrial believe the strategic alliances will further their ability to deliver greater choice and tailored solutions that meet customers' unique farming needs.