Today, on the Euronext Milan, Italy, trading in shares of Iveco Group N.V. (MI: IVG) began. The newly listed Group is formed from the demerger of the Commercial and Specialty Vehicles, Powertrain, and related Financial Services businesses from CNH Industrial N.V. (NYSE: CNHI / MI: CNHI). In celebration of the first day of Iveco Group, Gerrit Marx, Chief Executive Officer, rang the traditional opening bell of the Euronext Milan.
The stock market debut of Iveco Group heralds the launch of a solid, major international industrial enterprise; an independent ‘pure player’, with over 170 years of history in the sector through its various Brands. From trucks, buses, firefighting, and civil protection vehicles to powertrain solutions for on- and off-road, marine, and power generation, Iveco Group designs, produces, and sells a full range of Commercial and Specialty Vehicles and Powertrains, supported by the related Financial Services.
With a strong focus on innovation and the development of advanced and sustainable solutions, including reduced- and zero-emission powertrains, cloud-connected driver assistance systems and the exploration of emerging autonomous driving technologies and entirely new business models, Iveco Group is able to deliver these competitive strengths through the creation of innovative and mutually beneficial partnerships. With its 8 brands, 29 manufacturing plants, 31 research and development centres, and a workforce of around 34,000 people, Iveco Group is present around the world with a strong base in Europe.
Speaking at the opening bell ceremony, CEO Gerrit Marx said: “Our first day of trading marks a historic milestone as we become a fully independent company. I want to thank our Chair, Suzanne Heywood, and our Board of Directors for bringing this spin-off operation to completion and the entire Iveco Group team for taking on the challenge and dedicating extra effort to see it through. We have all the requisites needed for long-term success, including solid foundations, a focused team, and a clear strategy, which will allow us to move quickly, innovating and partnering to create better solutions in today’s fast-changing environment. We are also ready to face the global challenges of climate change, directly calling upon the Environmental, Social, and Governance dimensions of our public responsibility. We are committed to transforming not only our business but also our industry, backed by our track record of pioneering solutions in the most advanced fields of road transportation and propulsion, including alternative fuels, autonomous driving, and new business models. The entire Iveco Group team and I are profoundly grateful for the years we shared with CNH Industrial and are confident that our former colleagues will continue to make strides in agriculture and construction. We are excited to begin this next chapter, conscious that we will be facing challenges, but guided by a clear path and vision: we are definitely on the road to a new energy future”.
SOURCE: Iveco
