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SETTING UP FACTORIES IN CHINA BY WORLD LEADING EQUIPMENT MANUFACTURERS

EQUIPMENT & MACHINERY MANUFACTURERS TO INVEST IN CHINA



Eforchina.com

MAJOR world agricultural machinery manufacturers are ramping up investment in China, with CNH Global the latest to declare its hand.

Last week, the company announced it will build a new manufacturing plant in Harbin, northeast China, with an initial investment of $90 million.

Interestingly, the announcement came days after a report that China is planning to spend a lazy $160 billion this year to increase agricultural development.

The move is also focused on increasing farmers’ incomes, sending fleeting thoughts to cash-strapped WA farmers of a lifestyle move.
Eforchina.com

China’s finance minister Xie Xuren, said the majority of the money would be spent on water projects to increase water availability for irrigation.

“The central government has also urged financial institutions to increase lending to agriculture-related businesses through incentive policies,” Mr Xie said.

Apart from CNH Global, other major manufacturers, including AGCO and John Deere, are positioning themselves in China, obviously keen to expand production of tractors, headers and sprayers.

According to CNH, its plans include a new factory to produce high horsepower tractors, combine harvesters and other machinery featuring advanced technology.

With this investment, CNH will expand its manufacturing base in China, where it currently assembles high horsepower tractors and other agricultural equipment in Harbin, and operates a manufacturing plant dedicated to low and medium horsepower tractors in Shanghai.
Eforchina.com

CNH CFO Richard Tobin, who will take over as president and CEO later this month, said China was an important market for the company.

“We strongly believe in its potential,” he said. “CNH has invested in this country for more than 100 years, when the first International Harvester tractor was imported to China.

“We have since steadily developed our relationship with China and will continue to invest to ensure our customers have access to our best technologies and expertise.”

CNH is a Chinese market leader in high horsepower tractors and harvesting equipment through its two agricultural brands, Case IH and New Holland Agriculture.
The China Inventory

January 16th, 2012
Topic: CHINA, MACHINERY EQUIPMENT, MANUFACTURE PROCESSING Tags: , , , , , , , ,

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