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CNH has sold its agricultural plough business, including the Overum brand name.
CNH has sold its agricultural plough business, including the production facility in Sweden, along with the Overum brand name.
It is understood that CNH will work with the new owner to ensure continuity of the plough product line in the coming months, although it’s unclear whether the products are sold as Overum machines through the New Holland dealer network or remain as a New Holland-badged product in the future.
The Overum plough range was part of the portfolio of Kongskilde cultivation and grass product ranges which CNH purchased in late 2016 to grow the New Holland brand as a full line supplier. Since the acquisition, beyond a change in livery, it does not seem to have had major investment in new products.
In a statement issued on the April 15, CNH noted that it has finalised the sale of the agricultural plough business to FairCap. The transaction includes the factory – employing 70 staff, the intellectual property and inventory relating to the product line. One Swedish newspaper noted that the company may return to the Overum name and livery, suggesting that the factory will once again hold the autonomy it enjoyed before being absorbed by Kongskilde and then CNH.
The reason given for the sale by CNH is that it intends to fully focus on the research and development, manufacturing and sales efforts for its core product portfolio and growth of its in-house tech stack.
CNH has not sold the plough business to a competing agricultural machinery company, instead, to a Germanbased investment company which describes itself as an investment company with locations in Munich, Milan and London, which acquires medium-sized companies in special situations and develops them holistically, taking financial, ecological and social aspects into account.
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