CNH losses lower than last year

Case New Holland (CNH) has reported a third quarter net loss of £21.2m, a better performance than the same period last year when net loss stood at £38.9m.
Net sales of equipment are up 12% for the quarter, driven by strong sales of the company's agricultural and construction equipment.
Sales of construction equipment currently stand at £396m, essentially unchanged from the third quarter of 2002.
The company said sales of heavy equipment increased worldwide, led by growth in Asia and North America.
CNH anticipates sales of heavy construction equipment for the fourth quarter of 2003 will continue to rise, while sales of light construction equipment are expected to decline - especially in Western Europe - in line with the current trend.