CNH Industrial to halt construction equipment sales in China

Credit: REUTERS/Massimo Pinca

MILAN, Dec 1 (Reuters) - Farming and construction machine maker CNH Industrial CNHI.MIwill stop selling its construction equipment in China effective Dec. 31 as part of the company's turnaround plan for its global construction business, it said on Thursday.

The group said it does not expect to incur in significant charges from halting the sales, which totalled around $88 million last year, adding that its other activities in China would not be affected by the move.

CNH Industrial had consolidated revenues of $19.5 billion last year, based on a pro forma statement the company prepared after it completed the spin-off of truck unit Iveco IVG.MI at the start of this year.

(Reporting by Federico Maccioni and Giulio Piovaccari, editing by Alvise Armellini)

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