CNH Industrial goes shopping in Italy and acquires Sampierana from Romagna, a manufacturer of crawler excavators, for € 101.8 million. Born in the 1950s from Aleardo Para’s iron workshop, today, under the management of his sons Cesare and Moreno, it produces tracked undercarriages, mini excavators and compact loaders. The company is based in San Piero in Bagno (province of Forlì and Cesena), employs 350 people and has a turnover of around one hundred million euros.
The agreement explains a note from the group controlled by Exor, the holding company of the Agnelli family, provides for the acquisition of 90% of the share capital and then obtaining 100% control of the company over the four years following the closing of the operation. “This latest strategic acquisition – comments Scott Wine, CEO of Cnh Industrial – will accelerate the growth of our construction machinery segment”.
Sampierana has recorded, year after year, a positive trend in profits, particularly in Europe, and is renowned, they argue in Cnh, for reliability, quality and innovative technology. «The wide product portfolio, the high customization capacity and the existing prototypes of electric machines will allow Cnh to increase its offer of products and technologies». The group controlled by Exor therefore confirms its commitment to invest to grow the construction machinery business, improving its positioning in a market where the demand for mini and midi excavators is high.
Sampierana is present in Italy, where the headquarters and production sites (in Modena) are located, but also has a wholly owned subsidiary in China, with a factory in Kunshan. In 2017 she entered the Elite project of the Italian Stock Exchange.
Just two months ago, CnhI made its largest acquisition since the group’s inception in 2013. A $ 2.1 billion, € 1.763 billion shopping spree to gain a leading position in the agriculture of the future. The group headed by Exor has acquired 100% of Raven Industries, a US company listed on the stock exchange, one of the first in the world in precision agriculture. Headquartered in Sioux Falls, South Dakota, Raven Industries is organized into three divisions: Applied Technology (precision agriculture), Engineered Films (high-performance specialty films) and Aerostar (aerospace), with consolidated revenues of 348.4 million dollars and 1,300 highly qualified employees.