CNH is planning to build a new factory at Minais Gerais in Brazil in an investment worth some US$341.4 million (R$600 million). The factory will be located in Montes Claros, in the northern part of Minas Gerais. The firm has signed a Memorandum of Understanding with the authorities in Minas Gerais (Brazil) at Fiat Industrial’s headquarters in Turin, Italy. The agreement was reached during a visit by a Minas Gerais state government delegation, led by Governor Antonio Anastasia. “This agreement strengthens ou
“This agreement strengthens our ties to the state of Minas Gerais and reconfirms a commitment started 40 years ago with Fiat’s first investments in the region. Minas Gerais holds a prominent place in the Brazilian economy and therefore is an ideal location for Fiat Industrial, and for CNH in particular, to grow in Brazil,” said Sergio Marchionne, chairman of Fiat Industrial and CNH.
The plant in Montes Claros will add to the company’s presence in Minas Gerais, which includes a facility in Contagem. Originally established in 1970, the site was the first Fiat factory to be located in Brazil, and currently produces equipment for CNH’s construction brands,
