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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of October, 2001.
CNH GLOBAL N.V.
(Translation of Registrant's Name Into English)
World Trade Center
Tower B, 10th Floor
Amsterdam Airport
The Netherlands
(Address of Principal Executive Offices)
(Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form 40-F.)
Form 20-F X Form 40-F
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(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the
information to the Commission pursuant to Rule 12g3-2(b) under the
Securities Exchange Act of 1934.)
Yes No X
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(If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- _______.)
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[CNH LOGO]
NEWS RELEASE
FOR IMMEDIATE RELEASE
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WEAKENING SALES OF CONSTRUCTION EQUIPMENT TO IMPACT
CNH FOURTH QUARTER EARNINGS
For more (Lake Forest) October 4, 2001. CNH Global N.V.
information contact: (NYSE:CNH) today announced that weakening sales in the
Jeffrey T. Walsh construction equipment industry are expected to
Media Relations adversely affect the company's performance in the
(1) 847 955 3939 fourth quarter of 2001. Third quarter results, to be
announced on October 25, 2001, are expected to be
Albert Trefts Jr. within the guidance communicated in July, that is, a
Investor Relations loss of between $.35 and $.45 per share. Detailed
(1) 847 955 3821 guidance for the fourth quarter will be provided in the
company's third quarter earnings release and conference
call.
CNH expects that construction equipment industry sales
will decline further in the fourth quarter across all
major markets resulting in a full year world wide
industry decline of approximately 15%, compared to the
previous year. The industry decline is greater for
light equipment, the sector in which CNH is the market
leader. Sales of CNH construction equipment are down
essentially in line with the industry, except for
backhoe loaders, where company sales were adversely
impacted by a model changeover at the beginning of the
year. As a result, CNH is reducing production across
most CE product lines during the fourth quarter, in
order to bring inventories in line with lower retail
demand. These reductions in production and inventories
will allow CNH to improve its cash position.
The agricultural equipment industry sales in the
Americas and Western Europe were stronger than expected
in the third quarter and this positive trend should
continue through the balance of the year. Sales of CNH
agricultural equipment in the third quarter were in
line with the industry.
The company continues to aggressively implement its
restructuring and development plan. CNH benefits from
the favorable dealer and customer response from new
products introduced this year through its multiple
distribution channels. Merger related profit
improvements continue to accrue from manufacturing
efficiencies, reductions in material costs and in SG&A
expenses. In addition, CNH continues to emphasize
process reengineering programs to streamline
administrative processes to reduce SG&A, further
improve its supply chain to reduce working capital, and
revamp its product development processes to improve
quality and product cost.
CNH is the number one manufacturer of agricultural
tractors and combines in the world, the third largest
maker of construction equipment, and has one of the
industry's largest equipment finance operations.
- CNH Global N.V. Administrative Offices 700 State
Street Racine, WI 53404 U.S.A. http://www.cnh.com -
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Revenues in 2000 were over $10 billion. Based in the
United States, CNH's network of dealers and
distributors operates in over 160 countries. CNH
agricultural products are sold under the Case IH, New
Holland and Steyr brands. CNH construction equipment is
sold under the Case, Fiatallis, Fiat-Hitachi,
Link-Belt, New Holland, and O&K brands.
- CNH Global N.V. Administrative Offices 700 State
Street Racine, WI 53404 U.S.A. http://www.cnh.com -
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
CNH Global N.V.
By: /s/ Debra E. Kuper
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Debra E. Kuper
Assistant Secretary
October 4, 2001