* CNH subsidiary says will build combines, tractors
* Investment to create 600 jobs in Argentina
(Adds details throughout, dateline)
BUENOS AIRES, April 26 Fiat Industrial FI.MI,
through its affiliate CNH CNH.N, will set up a plant in
Argentina to manufacture powerful combines and specialty tractors destined for the Latin American market.
The plant will create some 600 direct and 1,500 indirect
jobs, CNH said in a statement on Tuesday.
"The initial investment of over $100 million will include
the launch of new, localized product lines and expansion of the
Fiat Industrial complex in Cordoba, Argentina," CNH said.
The announcement was made after a meeting in Buenos Aires
between the chairman of Fiat Industrial Sergio Marchionne and
Argentine President Cristina Fernandez.
The products are expected to be launched as early as the
fourth quarter of this year, the company said.
Argentina and neighboring Brazil are major growers and
exporters of oilseeds and grains.
(Reporting by Magdalena Morales; Writing by Hugh Bronstein)