V 01.44 No. 29
ANDY ANDREWS
Lancaster Fanning Staff
NEW HOLLAND (Lancaster
Co.) Fattn Equipment manufac
turer New Holland NV, based in
Amsterdam with North American
headquarters located here, with
1998 net revenues of $5.7 billion,
on Monday announced it was pur
chasing Case Corporation, based
in Racine, Wis., for $4.3 billion.
Case Corporation shareholders
would receive $55 per share in
cash from New Holland NY,
which intends to fund the transac
tion by issuing debt and equity.
Case, with 1998 consolidated net
revalues of $6.1 billion, when
combined with New Holland,
Lancaster County Farm and Home Foundation gave
$1,400 to each oftheae studenta to pursue either an agricul
ture or home economics-related degree. Scholarship reci
pients, from left, are Shannan Bombers, Laura Miller, Sarah
Woodllng, Michael Bollinger, Dayna WeinhoW, Jeaaica
Heaa, and Jessica Latham. Sea story on page All.
Reading Fair Breaks
Ground On New Site
VERNON ACHENBACH JR
Lancaster Farming Staff
LEESPORT (Berks
Co.) Officials with the Read
ing Area Fair, state Department of
Agriculture, and Series County
leaders officialy broke ground this
week on the new Reading Fair
grounds, located in Leesport adja
cent to die Berks County Agricul
ture Center.
The Reading Fair is to be held
there this September, and officials
expect to have the first building
completed a 60-foot by
310-foot pole building to be used
as a cattle holding and cattle judg
ing area.
'tir
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PENN STATE UNIVERSITY
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UNIV PARK PA 16802
Four Sections
New Holland, Case Merger Plans Announced
could create a company with
revenuesofdosetosl2 billion per
year.
In comparison, Deere and Co.,
noted by experts to be the world’s
largest manufacturer of farm
equipment, based in Moline, HI.,
had sales of about $l3 billion in
1998.
Fiat S.pA in Italy owns 71 per
cent of New Holland. New Hol
land has approximately 6,100
dealers and 21,300 employees.
Case operates through about
4,900 dealers and employs 17,700
people.
In a news release appearing
simultaneously on both New Hol
land and Case Corporation web
The fairground’s 69 acres, com
bined with the land included with
the Agriculture Center, is expected
to provide a total of about 80 acres
on which to hold the annual week
long Reading Fair.
Also, during the remainder of
the year, 4-H youth are to be able to
use the grounds for various lives
tock shows and events.
For more than S years, Berks
County agricultural and fair lead
ers have been working to find a
new home for the fair, which had
been held for 14 years at the Fair
grounds Mall, north of Reading,
(Turn to Pago A 36)
Lancaster Farming, Saturday, May 22, 1999
sites, it was announced that Jean-
Pietre Rosso, Case chairman and
chief executive officer (CEO), will
become chairman and CEO of the
combined company. A new name
would be selected for the group,
with Fiat retaining a 71 percent
controlling interest
The deal is subject to regulatory
Excellent hay drying and corn planting spring weather hnifWhid farmers ahead with these
activities. Some Maryland farmers are reporting dryness to the point of hurting hay production.
According to the Pennsylvania Agricultural Statistics Service, planting of most commodities has
progressed well, with corn planting at least one week ahead of schedule. A look at the fields across
the region show corn fully emerged and growing in most fields. Wheat, barley and oats were all
ahead of schedule with heads emerging nicely. Fruit trees have bloomed rapidly with the above
normal temperatures. Peach and cherry blooming is complete and apples are ahead of normal.
Conditions have been favorable to plant vegetables.
Pastures were dependent on the rainfall, with most of them in good to excellent condition. Growth
remains slow in some areas due to the dry conditions. In the photo, two yearling Holstein heifers
enjoy a nice open green meadow filled with buttercups and seeding dandelion Monday afternoon.
Located along New Holland Road just north of Newport Road in Lancaster County these bovine
youth became both suspicious and curious when the black box with the "seeing eye" was pointed at
their scenic Amish Farm home. They soon made up with the photographer and came up to the fence
for a close-up encounter. Photo by Everett Newswanger, editor.
With a bulldcnar Immediately behind them, state, county, local, 4-H and Reading Fair officials
celebrate groundbreaking on a new 69-acre Reading Fairgounds in Lee sport, adjacent to the
county Agriculture Center. From the left is A. Wayne Readinger, agricultural director of the
Reading Fair; Brandon Treichler, representing county 4-H dairy clubs; state Secretary of Agri
culture Samuel E. Hayes Jr.; Carrie Hartman, representing the Berks County 4-H Beef Club;
Ashley Shollenberger, the state lamband wool queen representing the Berks County 4-H Sheep
Club; Anita Manbeck, representing the county 4-H Swine Club; state Rep. Sheila Miller, a long
time agricultural advocate, member of the state House Agriculture and Rural Affairs Committee
and a member of the Reading Fair board of directors; Albert Boscov, owner of Boscov’s depart
ment stores and preaident of the Reading Fair; and Dave Souders, vice president of the Read
ing Fair.
$31.00 Per Year
and Case shareholder approvals,
noted New Holland.
“We are creating a new com
pany with an extraordinary range
of products and services that will
meet the needs of more customers
around the world than any other
equipment company, while also
capturing the significant synergies
60c Per Copy
of a company of this scale and
scope,” said Rosso.
“We are elated by this opportun
ity to create a new company with
unparalleled global reach in the
equipment industry,” said Umber
to Quadrino, New Holland CEO.
“Participating in this challenge,
(Turn to Pago A 33)