October 11, 2019 / 2:43 PM / a month ago

CNH's Iveco unit to invest $4.2 bln globally in next 5 yrs

MILAN, Oct 11 (Reuters) - Iveco, the truck unit of industrial vehicle group CNH Industrial, will invest $4.2 billion worldwide under its plan to 2024, trade unions said in a statement.

Specific figures about investments in Europe are not yet available, unions FIM, UILM, FISMIC, UGLM and AQCFR said in a joint statement after meeting with Iveco Chief Executive Gerrit Marx in Turin.

Last month the Italian-U.S. group said it would split in two and list its truck, bus and engine divisions in an effort to boost asset values and streamline its businesses.

A spokesman for CNH Industrial confirmed the figure provided by the unions for Iveco’s investments.

Reporting by Giulio Piovaccari, editing by Valentina Za

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