CNH to Offer Retail Financing in Thailand

Sun Nov 25, 2012 10:00pm EST

* Reuters is not responsible for the content in this press release.

  BANGKOK, THAILAND, Nov 25 (Marketwire) -- 
CNH International SA ("CNH") and Asia Pacific Agricultural Machinery Co.
Ltd. ("APAM"), its authorized distributor of New Holland agricultural
equipment in Thailand, together with CFG Services Co. Ltd., today
announce they have reached an agreement to offer retail financing
programs designed for customers in the agricultural sector in the country.

    The financing program, which will be fully operational starting December
2012, will be staffed by CFG Services Co. Ltd., who will work closely
with New Holland Agriculture, APAM and its dealers to provide a full
range of competitive and flexible financing packages.

    Under the program, customers acquiring any model from the New Holland
Agriculture tractor range will be given the opportunity to finance the
acquisition with flexible payment options including monthly, quarterly,
half-yearly and yearly payments, down payments starting from 20% and
attractive interest rates. To celebrate this new development, New Holland
Agriculture's best-selling compact tractors in Thailand will be available
with interest rates starting at 5%(1).

    Khun Somchai, Managing Director of APAM, commented, "This cooperation
aims to help Thai farmers benefit from New Holland Agriculture's high
premium tractor offering under affordable conditions. By making available
dedicated financial packages and tailored options to meet our customers'
business requirements, this agreement will increase their buying power.
It will also be an important tool to increase the mechanization of the
Thai agricultural sector." 

    Michele Lombardi, Head of Agricultural Operations in the Far East for CNH
International, added, "With this agreement we aim to further improve the
level of service offered to our customers. Thailand, where New Holland
leads the tractor segment above 50 horsepower, is a very important market
for us. This program will further raise the competitiveness of our full
range of reliable equipment, and support the mechanization of the
country's agriculture."

    Tanyapong Thamavaranukupt, Managing Director of CFG Services Co. Ltd.,
said, "In the past we were able to help Thai tractor owners meet their
borrowing needs with our tractor-for-cash product. This new tractor
financing program leverages upon that experience and allows us to take
our services to the next step, making it easier for Thais to invest in
farming equipment that will help reduce their production costs and
increase the productivity of their land."

    "We are very pleased CFG Services has agreed to support CNH in Thailand
by offering financial packages customized for the New Holland Agriculture
brand," concluded Carlo Alberto Sisto, CNH Trade & Structured Finance
Senior Director. "Its reputation as a trusted partner and its local
presence will be of mutual benefit for our companies and our customers."

    The continued mechanization of the agricultural sector in Thailand and
the market position of the CNH brands provide considerable potential for
growth for the three partners as a result of this new agreement.

    (1) Notes: 1, Subject to applicable contractual terms and conditions

    Note to the editor:

    CNH Global N.V. is a world leader in the agricultural and construction
equipment businesses. Supported by approximately 11,300 dealers in
approximately 170 countries, CNH brings together the knowledge and
heritage of its Case and New Holland brand families with the strength and
resources of its worldwide commercial, industrial, product support and
finance organizations. CNH Global N.V., whose stock is listed on the New
York Stock Exchange (NYSE: CNH), is a majority-owned subsidiary of Fiat
Industrial S.p.A. (FI.MI). More information about CNH and its Case and
New Holland products can be found online at

    CNH International S.A., a subsidiary of CNH Global N.V., is the company
responsible for the sales, distribution and after sales operations of
agricultural and construction branded equipment in over 120 countries
throughout Africa, the Middle East, the Commonwealth of Independent
States, Asia and Oceania, encompassing Australia, China and India. CNH
International was established in 2007 to strengthen CNH's brands focus in
emerging and high-growth markets.

    Asia Pacific Machinery Co. Ltd., is an importer and distributor of New
Holland tractors and Case IH Austoft(R) sugar cane harvesters in
Thailand, Laos, and Cambodia. APAM sell machinery and spare parts with
warranty and after sales service. Its experienced dealers and after sales
service officers are able to advise customers on their machinery and
spare parts purchases, and on the most efficient operation. APAM has the
experience in agricultural and harvesting practices, efficiency and
productivity, to be a true partner for agricultural businesses. 

    CFG Services Co. Ltd., a subsidiary of the Bank of Ayudhya, provides cash
loans via hire purchase and secured loan contracts to those customers who
already hold titles to cars and other vehicles including farm tractors.
CFG operates more than 200 branches nationwide.

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