Fiat Industrial renews 3-year committed revolving credit facility

Fiat Industrial says it has completed its new leadership team after making the final two appointments to its Group Executive Council. The appointment of Lorenzo Sistino as Iveco brand president, and Oddone Incisa, as president, financial services, follows a senior management shake-up which began in November 2012 aimed at enhancing the ‘operational integration’ of Fiat Industrial and CNH Global. Having worked for Fiat companies in various roles since 1987, Sistino was most recently head of commercial vehicle

Fiat Industrial has announced the submission of its best and final offer for a strategic combination with CNH Global. Following last month’s decision by CNH’s Board of Directors Special Committee not to recommend Fiat Industrial’s (FI) initial strategic combination bid, FI has engaged in further discussions with the Special Committee regarding its willingness to offer improved terms. A final offer letter from Sergio Marchionne, chairman of FI, to the CNH Special Committee is said to preserve the essential

Haulotte Group (HG) increased its Q4 2011 sales by 13%, compared to the same period of 2010. The rise took consolidated October 1 to December 31 2011 sales to US$107.1million (€82.2 million) compared with $94.5million (€72.5million) in the same three months of last year.

Fiat Industrial’s (FI) revenues of €5.802 billion in Q1 2013 were just 0.6% down on its €5.837 billion revenues of Q1 2012, the Group has disclosed. FI said a growth in its agricultural machinery and engines businesses was able to offset “more challenging” trading conditions in the construction equipment and truck and commercial vehicles sectors. The Group posted a trading profit of €408 million in Q1 2013, down from €430 million over the same three months of 2012. Meanwhile, net industrial debt increased t