Tractor and truck maker CNH Industrial NV expects to raise operating profit for its industrial activities by as much as 60 percent and become debt free over five years by expanding and refreshing its product lineup and growing in Asia.Chief Executive Richard Tobin, in an investor presentation on Thursday, said he planned to boost the group's farming equipment portfolio and its geographic reach, return the construction machinery business to profitable growth and introduce new models for its pressured truck unit."We will be bold where we have the advantage and we will react quickly and decisively when the markets turn against us," Tobin said.The company forecast operating profit for its industrial activities would rise to $3.4 billion by 2018, from $2.1 billion last year, while operating margin is seen reaching 9 percent.
CNH Industrial NV is a Netherlands-based company primarily engaged in the manufacture of heavy machinery and vehicles equipment. Shares of CNHI fell by 2.16% or $-0.25/share to $11.35. In the past year, the shares have traded as low as $10.16 and as high as $13.16. On average, 489123 shares of CNHI exchange hands on a given day and today's volume is recorded at 1310510.
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