MILAN, Feb. 26 (Class Editori) - Iveco Bus, global brand of busses owned by CNH Industrial (subsidiary of Exor) has signed an agreement with the Turkish company Otokar Otomotiv ve Savunma Sanayi A.s concerning the manufacture of products with the Iveco Bus trademark in its factories based in Sakarya, Turkey. The partnership provided by the agreement is related to both the models already present in the Iveco Bus portfolio and their international supply, as well as the production of a customized model for the markets of Eastern Europe, Africa, Middle East and Asia.
Vehicles will be powered by the motors of the subsidiary FTP Industrial and it is forecasted that the first models will be produced within 2021. Through this agreement, Iveco Bus aims at expanding its production capacities, by carrying out at the same time all the regular activities in the current production sites, in which current and future models will continue to be designed and produced.
“Relying on our current structures for the production of Iveco Bus models will ensure that our plant will work in a more effective and efficient way”, as Gorguc has added. “We will continue to sell our busses and to expand on a global level; furthermore, we think that this production and supply agreement will be an extremely important and strategic step forward in a long-term cooperation”.
CNH Industrial has closed 2019 with a net profit of 1.454 billion dollars (1.326 billion euros), growing by 32% compared to the previous year. All this has been recorded after a pre-tax burden of 274 million (222 million net of taxes) related to the Transform2Win strategy and thanks to the positive impact amounting at 539 million regarding a fiscal benefit assigned in the third quarter. The adjusted net profit has amounted at 1.178 billion (1.074 billion euros), improving by 5%. The adjusted diluted earnings per share increased by 5% to 84 cents per share. The consolidated revenues have amounted at 28.1 billion (25.6 billion euros), dropping by 6% at effective exchange rates and by 2% at constant exchange rates. A total amount of 332 million dollars has been returned to shareholders through the payment of dividends and the purchase of equities. A dividend of 0.18 euro (almost 0.197 dollars) per share has been proposed, in line with 2019.
(Source:Class Editori)
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