CNH ($10 bn turnover in 2000), Italian-American agricultural machines and heavy equipment for public works group, held to the tune of 84% by FIAT, has announced the conclusion of a global alliance with the Japanese steel manufacturer KOBE STEEL in the public works sector. According to CNH, the agreement concerns the "sale, development and production of crawler excavators" in Asia and North America. CNH will take a 20% stake (that could climb to 35%) in KOBELCO CONSTRUCTION MACHINERY, public works machinery offshoot of KOBE STEEL. CNH will also take a 65% controlling stake in KOBELCO AMERICA, American subsidiary of the Japanese giant. Conversely, KOBELCO will take over all CNH's activities in the Asia-Pacific region and become the exclusive distributor of public works machinery of the Italian-American group. In Europe, CNH and KOBELCO will also create a joint-venture FIAT-KOBELCO in which CNH will hold a 75% stake, intended to replace the alliance with HITACHI which expires on 30 June 2002.