SRC Insight | SRC extends joint venture with CNH through 2018
By: Geoff Pickle, Web Producer
Next year, Springfield-based SRC Holdings Corp. and London-based CNH Industrial NV will continue their local partnership.
SRC CEO Jack Stack this morning said the joint venture between the companies — based locally and known as CNH Industrial Reman — would enter its sixth year in 2018. Company officials made the decision about six months ago, which is standard for such partnerships, he said.
“Right now, the relationship has been stronger and stronger and the opportunities have been out in front of us,” Stack said, noting around mid-2018, SRC and CNH would re-evaluate the partnership again for 2019.
At CNH Industrial Reman, 2707 N. Farm Road 123, employees build remanufactured parts for the agriculture and construction industries. Stack referred questions on the company’s performance this year to General Manager Bruce Krueger, who could not be reached for comment by deadline.
Last year, the joint partnership with CNH was the winner for the six to 15 years in business category for Springfield Business Journal’s Economic Impact Awards. According to the profile, the business had 2015 sales of $129 million.
SRC Holdings’ website lists 10 businesses, including CNH Industrial Reman.