business

Iveco absorbs a subsidiary in the Netherlands, one year after spinning off from CNH

Written by ebookingservices

Iveco Group has decided to absorb its subsidiary in Netherlands New Business Netherlands Holding, so since last October 1 this company has ceased to exist, as reported by the vehicle manufacturer group in a statement. For accounting reasons, Iveco plans to register this merger by absorption from January 1, 2022. The decision was adopted by the board of directors in accordance with the applicable legislation.

The Iveco group recorded a net profit of 21 million euros in the first half of the year, the first as an independent company, a 85.3% less in the year-on-year comparison. In addition, in the first six months of the year it reached aa turnover of 6,419 million euros, 1.6% morewhile its operating profit fell by 47.7%, to 134 million euros.

One year after splitting from CNH

This accession comes a year after the demerger of CNH Industrialwhich resulted in the listing of its shares on the Milan Euronext index, from the January 3, 2022so that those who held shares received a new Iveco Group share for every five CNH Industrial titles they hold.

The name of the spun-off company after the operation became Iveco Group N.V.which established itself as a global group dedicated to the design, production, sale, service and financing of trucks, commercial vehicles, buses, among others, as well as combustion engines, alternative propulsion systems, transmissions and axles for said vehicles and engines. , alternative propulsion systems for agricultural and construction equipment and for marine and power generation applications.

.

About the author

ebookingservices

Leave a Comment