Fiat Industrial

The proposed spin-off included businesses that accounted for about 35% of Fiat Group sales. Marchionne argued that separating them would give the industrial operations greater visibility, while allowing Fiat's automotive business greater flexibility to pursue mergers, partnerships, and additional capital as it sought greater scale in the car industry. On 1 January 2011, each existing share of Fiat S.p.A. was converted into one Fiat share and one Fiat Industrial share. This resulted in Exor (the holding company controlled by the Agnelli family), the largest shareholder of Fiat with a stake of around 30%, holding an equivalent stake in Fiat Industrial. Exor has however raised the possibility of the future sale of some of its stake. In September 2011, the company entered the DJSI World and Europe indexes as leader in the Industrial Engineering sector. On 29 September 2013, CNH Global N.V. and Fiat Industrial S.p.A. were merged into CNH Industrial N.V, a company incorporated in the Netherlands. Industrial shareholders received one CNH Industrial common share for every Fiat Industrial share held and CNH Global shareholders received 3.828 CNH Industrial common shares for every CNH Global common share held. CNH Industrial N.V. was subsequently listed on both the NYSE and the Milan stock exchange (Mercato Telematico Azionario. For additional information, see CNH Industrial N.V.

• Name — Fiat Industrial S.p.A. • Type — Società per azioni • Fate — Merger • Founded — (incorporated) • Defunct — 2013 9 29 • Successor — CNH Industrial • Hq Location — Turin, Italy • Key People — Sergio Marchionne (Chairman) • Industry — Heavy equipment • Products — Trucks, construction and agricultural machinery, industrial and marine powertrains • Revenue — €25.8 billion (2012) • Operating Income — €2.1 billion (2012) • Net Income — €921 million (2012) • Num Employees — 68,257 (end 2012) • Subsidiaries — CNH Global (87.4%), Iveco, FPT Industrial