For more information contact:

Communications (+1) 847 955-3939

RACINE, Wis. (February 20, 2006) - The irregularities at Walterman Implement, a former Case IH dealership in Iowa, forced CNH and CNH Capital to petition the bankruptcy court to operate the dealership under supervision of the court-appointed trustee. The involuntary Chapter 7 bankruptcy petition was filed to protect Walterman customers and creditors.

"We acknowledge the difficulties the bankruptcy has created for our customers. We have been hurt financially as well," said Mario Ferla, President of Case IH.

"Our goal is to make sure our customers continue to have access to the equipment and service they need and desire, and we continue to work with the court-appointed trustee to provide the full range of services through Dike dealership, Titan Machinery Inc. While sorting through the uncertainty and complexities of the bankruptcy, we are exploring every option available that supports our customers. We've contacted the farmers with financial exposure on the combine 'roll' programs and are assisting them on a case-by-case basis. In this regard we have been able to satisfy their needs in the vast majority of the cases," Ferla stressed.

"We want to continue to work with every former Walterman Implement customer to answer individual questions and discuss issues related to their specific equipment needs, existing financial arrangements and purchase orders. We will do everything required to balance the interests of our customers and our company," Ferla added.

Case IH and CNH Capital encourage customers who have not yet resolved their situation to contact:

  • Dike dealership, Titan Machinery, Inc. at (319) 989-2353. Titan Machinery is one of the largest Case IH dealerships with 24 locations in the Midwest, including one in nearby Waverly, Iowa.
  • Customers outside the Dike IA area can call (800) 777-0552 and be referred to CNH Capital for financing solutions or Case IH customer relations for local dealerships.

All issues resulting from the operations of the former dealership will ultimately be decided by the bankruptcy court. A final hearing on the bankruptcy is not yet scheduled, and it is not Case IH and CNH Capital policy to engage in speculation as to the possible results of those proceedings.

Case IH is a leader in the farm equipment industry. Thanks to a 160-year history, the Case IH signature red color is recognized around the world. Through a network of more than 4,900 dealers and distributors world.