New Holland Completes Sale of Tractors to China

AMSTERDAM, The Netherlands (ots-PRNewswire) - New Holland N.V. (NYSE: NH) today announced the delivery of 363 agricultural tractors to the China National Construction and Agricultural Machinery Import and Export Corporation (CAMC). The sale was financed through a loan from the Overseas Economic Cooperation Funds of Japan. All the units are 160 horsepower Series M tractors assembled in the United Kingdom at New Holland's Basildon facility. The deal also includes extensive spare parts support, technical assistance, training and the provision of fully-equipped mobile service workshops. The tractors are intended for use in the Sanjiang Plain Agricultural Development Project in Heilongjiang Province. The majority of the units will be used within the Heilongjiang Beidahuang State Farm Group, New Holland's partner in the Harbin New Holland Beidahuang Tractors Ltd. joint venture announced last month. The 363 built-up units are of the same model that will be built by the joint venture, and were delivered in time for use in spring planting. Local service workshops have been established and training of service personnel and operators is on schedule. Production by the joint venture is expected to begin later in the second half of the year. New Holland is a world leader in the design and manufacture of a full line of agricultural and construction equipment, and offers a rapidly expanding line of financial services in many of its markets. The Company and its joint venture partners operate through a global network of more than 6,000 dealers and distributors in 160 countries. ots Original Text Service: New Holland N.V. Internet: http://www.newsaktuell.de Contact: Jeffrey Walsh of New Holland N.V., +44-181-479-8809, or fax, +44- 181-479-8626, or JWALSH@NEWH0LLAND.C0M Subscribers please note that material bearing the slug "PROTEXT" is not part of CTK's news service and is not to be published under the "CTK" slug. Protext is a commercial service providing distribution of press releases from clients, who are identified in the text of Protext reports and who bear full responsibility for their contents. PROTEXT