CNH Global, subsidiary of Italy-based Fiat Industrial (into which Italian carmaker Fiat Group placed most of its activities not directly related to automobiles at the start of 2011), has announced it will invest more than $100 million in Argentina to set up a local manufacturing site for the production of combine harvesters and tractors destined for the Latin American market. The announcement was made following a meeting between Fiat Industrial chairman Sergio Marchionne and Argentine President Cristina Fernández de Kirchner.
The new site will derive from the expansion of the Fiat Industrial complex in Cordoba. The new plant will encompass a total surface area of 78,000 square meters and will generate some 600 direct and 1,500 indirect jobs. As early as the fourth quarter of 2011, the new lines will begin producing the most powerful class of combines with the latest technology, as well as specialty tractors - products which are not currently built in Latin America.