Case Forms Partnership With Russia

Case Corp., the world’s second-largest farm equipment maker, said that it agreed to form a partnership with Russia to help develop that country’s farm sector, setting the stage to be a player in a potentially big market. The partnership, to supply and manufacture farm equipment and provide supporting services, marks a return to Russia for the Racine, Wis., company, which has not sold any equipment in that country since the first half of 1998. Case was unable to complete the sale of 500 combines to Russia last year when financing fell apart. But it said that if financing becomes available again, the Russian market for combines and tractors could be thousands of units a year. The company said it plans to become a major player in that market, which has been dominated by Russian manufacturers. Case shares rose 78 cents to close at $25.13 on the NYSE.