CNH takes over parts distributors |
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Tue, 31 Jul 2007 20:12
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RACINE, WI (AP) - Farm equipment maker CNH Global NV said Tuesday it will assume direct responsibility for its distribution network, taking over seven spare part centers in the U.S. and Canada operated by Caterpillar Logistics Services Inc.As a result of the transition, Caterpillar employees who currently work at the centers will join CNH or be replaced by CNH employees.The depots are in Indiana, Illinois, Texas, Georgia, Pennsylvania, Saskatchewan and Ontario. CNH already owns the sites but pays Caterpillar to operate them.The company expects to have full control of the centers by the first quarter of 2008.Cat Logistics has provided parts distribution support to CNH and its predecessor companies for the past 14 years.CNH Global NV shares fell $2.45, or 4.5 percent, to $52.35 in afternoon trading. Caterpillar Inc. shares rose $1.86, or 2.4 percent, to $78.90.Copyright 2007 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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