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MarketScreener Homepage  >  Equities  >  Nyse  >  CNH Industrial N.V.    CNHI   NL0010545661

CNH INDUSTRIAL N.V.

(CNHI)
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CNH Industrial acquires a minority stake in Zasso Group AG

10/29/2020 | 05:00am EST


London, October 29, 2020

CNH Industrial N.V. (NYSE: CNHI / MI: CNHI) announced today that it has completed its acquisition of a minority stake in Zasso Group AG, a global specialist in non-chemical weed and invasive plant management solutions using electrical power.

With this transaction, CNH Industrial is further strengthening the product portfolio of AGXTEND, the Company’s accelerator for tech startups, and reaffirms its commitment to providing the world’s farmers with easy access to the latest innovative technologies. This equity participation will further enhance synergies to facilitate the launch of disruptive new products.

Zasso’s patented and innovative Electroherb™ solutions enable targeted, chemical-free weed control using an electrical current. This technology can also be employed in urban weed management situations. Electroherb™ is as effective and efficient as standard chemical herbicides, does not have to contend with growing developed plant chemical resistance and delivers social and environmental benefits.

Zasso Group, headquartered in Zug, Switzerland, was founded in 2016 and joined the AGXTEND platform in January 2019, providing exclusive distribution to its XPower™ electronic herbicide technology. This innovative technology was recognized with a bronze innovation award at the 2019 SIMA agricultural trade show in France.

This acquisition is further testament to AGXTEND’s core philosophy of facilitating and expediting broad and open access to new technologies which help farmers improve their overall productivity, efficiency and sustainability.


CNH Industrial N.V. (NYSE: CNHI /MI: CNHI) is a global leader in the capital goods sector with established industrial experience, a wide range of products and a worldwide presence. Each of the individual brands belonging to the Company is a major international force in its specific industrial sector: Case IH, New Holland Agriculture and Steyr for tractors and agricultural machinery; Case and New Holland Construction for earth moving equipment; Iveco for commercial vehicles; Iveco Bus and Heuliez Bus for buses and coaches; Iveco Astra for quarry and construction vehicles; Magirus for firefighting vehicles; Iveco Defence Vehicles for defence and civil protection; and FPT Industrial for engines and transmissions. More information can be found on the corporate website: www.cnhindustrial.com

Zasso is an innovative Swiss-based company specialized in non-chemical weed management solutions using advanced power electronics. Originally developed in Brazil, the patented technology targets both the shoots and the even more critical roots of undesired plants systemically by employing advanced lightweight high-voltage methods. The solution is commercialized under the names of Electroherb™ and XPOWER™. Its flexible, interchangeable applicators allow the system to be used in a range of surfaces and segments including agriculture, consumer market, and urban areas. In the context of dwindling number of available methods for environmentally friendly plant control, Zasso’s mission is to develop the necessary control and power modules that will help make the world herbicide-free, for a better future. With offices in Zug (Switzerland), Indaiatuba (Brazil), Aachen (Germany) and Paris (France), Zasso strives to demonstrate leadership in the electric weed control technology in all the markets it serves.

Sign up for corporate news alerts from the CNH Industrial Newsroom:
bit.ly/media-cnhindustrial-subscribe

                       
Media contacts:
                       
Laura Overall    
Corporate Communications Manager
CNH Industrial  
Tel. +44 (0)2077 660 338                                                 
E-mail: mediarelations@cnhind.com

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Financials (USD)
Sales 2020 24 186 M - -
Net income 2020 -291 M - -
Net Debt 2020 1 303 M - -
P/E ratio 2020 -77,1x
Yield 2020 0,14%
Capitalization 14 702 M 14 702 M -
EV / Sales 2020 0,66x
EV / Sales 2021 0,58x
Nbr of Employees 63 499
Free-Float 55,8%
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Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 11,34 $
Last Close Price 10,88 $
Spread / Highest target 19,5%
Spread / Average Target 4,19%
Spread / Lowest Target -21,9%
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Managers
NameTitle
Suzanne Heywood Chairman & Chief Executive Officer
Oddone Incisa della Rocchetta CFO & President-Financial Services
Jayanthi Iyengar Chief Technology Officer
Lo W. Houle Senior Independent Non-Executive Director
John B. Lanaway Independent Non-Executive Director
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