CNH Industrial Reports Q2 Results, Production Expansion
CNH Industrial posted it's second quarter results last week, showing revenue gains of about 1% for 2014, although operating profit dropped 1.2% for the quarter compared to 2012. Today the company announced it is investing $24 million to expand crawler dozer production in Burlington, Iowa.
The company's revenue increase was driven by its powertrain and financial services group. Construction equipment was slightly up for the year, but down for the quarter, compared to 2013. In the report, the company confirmed its guidance for this year's performance.
The production expansion in Iowa is part of the company's long-range strategy to "optimize its manufacturing footprint" and moves production from Calhoun, Georgia, to the Iowa facility. The move will add 50 jobs to the Iowa plant with production expected to start mid-2015.
You can find the company's releases here.
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