Exhibit 21

SUBSIDIARIES OF CASE CORPORATION
As of December 31, 1996

STATE OR OTHER OTHER NAMES(S)
JURISDICTION OF UNDER WHICH
INCORPORATION OR SUBSIDIARY DOES
NAME OF SUBSIDIARY ORGANIZATION BUSINESS
- ------------------ ---------------- ----------------

A. M. Exports Limited United Kingdom None

Austoft Holdings Limited Australia None

Austoft Inc. Florida None

Austoft Industries Limited Australia None

Brahma Steyr Tractors Limited India None

Brascor Corretora de Seguros Brazil None
Participacoes e Servicos S.A.

Brastoft Maquinas E Systemas Brazil None
Agro-Industrials S.A.

C.W., Inc. North Dakota None

Case (Barbados) FSC, Ltd. Barbados None

Case Belgium N.V. Belgium None

Case Beteiligungsverwaltung GmbH Austria None

Case Bodenverdichtungsgerate Germany None
Verwaltungs GmbH

Case bor-mor Holdings, Inc. Delaware None

Case Brasil & Cia Brazil None

Case Brasil Holdings, Inc. Delaware None

Case Canada Corporation Ontario Case Canada
Case Power &
Equipment

Case Canada Equipment Corporation Delaware None

Case Canada Investments, Ltd. Alberta None

Case Canada Receivables, Inc. Alberta None

SUBSIDIARIES OF CASE CORPORATION
As of December 31, 1996

STATE OR OTHER OTHER NAME(S)
JURISDICTION OF UNDER WHICH
INCORPORATION OR SUBSIDIARY DOES
NAME OF SUBSIDIARY ORGANIZATION BUSINESS
- ------------------ ------------ --------

Case CDC Holdings, Inc. Delaware None

Case Corporation Pty. Ltd Australia None

Case Credit Australia Pty., Ltd. Australia None

Case Credit Corporation Delaware None

Case Credit Holdings Limited Delaware None

Case Credit Insurance Agency Inc. Delaware None

Case Credit Limited United Kingdom None

Case Credit Ltd. Alberta None

Case Credit Wholesale Pty. Limited Australia None

Case Credits Limited United Kingdom None

Case Equipment Baumaschinen GmbH Germany None

Case Equipment Holdings Limited Delaware None

Case Equipment International Delaware None
Corporation

Case Equipment International Delaware None
Marketing

Case Europe S.A.R.L. France None

Case France S.A. France None

Case Germany GmbH Germany None

Case International Marketing, Inc. Delaware None

Case Irrigation Company Delaware None

Case Italy SpA Italy None

Case Licensing/Lending Company Delaware None

SUBSIDIARIES OF CASE CORPORATION
AS OF DECEMBER 31, 1996

STATE OR OTHER OTHER NAME(S)
JURISDICTION OF UNDER WHICH
INCORPORATION OR SUBSIDIARY DOES
NAME OF SUBSIDIARY ORGANIZATION BUSINESS
- ------------------ ---------------- ---------------
Case Mexico, S.A. Mexico None
Case Poclain GmbH & Co. KG. German General None
Partnership
Case Receivables II Inc. Delaware None
Case Receivables, Inc. Delaware None
Case Spain S.A. Spain None
Case Steyr Landmaschinentechnik AG Austria None
Case United Kingdom Limited United Kingdom None
Case Wholesale Receivables, Inc. Delaware None
Case-Poclain Ltd. United Kingdom None
Concord, Inc. North Dakota None
Consolidated Diesel Company North Carolina General None
Partnership
Consolidated Diesel of North North Carolina None
Carolina, Inc.
Consolidated Diesel, Inc. Delaware None
David Brown Tractors (Belfast) Ltd. United Kingdom None
David Brown Tractors (Ireland) Ltd. Ireland None
David Brown Tractors (Retail) Ltd. United Kingdom None
David Brown Tractors Limited United Kingdom None
Farm One AgServices, Inc. Delaware None
Fermec Baumaschinen GmbH Germany None
Fermec Holdings Limited United Kingdom None

SUBSIDIARIES OF CASE CORPORATION
As of December 31, 1996

STATE OR OTHER OTHER NAME(S)
JURISDICTION OF UNDER WHICH
INCORPORATION OR SUBSIDIARY DOES
NAME OF SUBSIDIARY ORGANIZATION BUSINESS
- ------------------ ------------ --------

Fermec International Limited United Kingdom None

Fermec Manufacturing Limited United Kingdom None

Fermec North America Limited United Kingdom None

Fermec S.A. France None

Fermec Trustee Limited United Kingdom None

Grand Detour Plow Company Wisconsin None

Hay & Forage Industries Kansas General None
Partnership

HFI Holdings, Inc. Delaware None

Highlyn Pty. Ltd. Australia None

International Harvester Company Delaware None

International Harvester Co. Belgium None
of Belgium N.V.

International Harvester Co. of United Kingdom None
Great Britain Limited

J. I. Case A/S Denmark None

J. I. Case Argentina, S.A. Argentina None

J. I. Case Company Limited United Kingdom None

J. I. Case Germany Holdings, Inc. Delaware None

J. I. Case International, S.A. Venezuela None

J. I. Case Leasing Corporation Wisconsin None

J. I. Case Property Company Delaware None

J. I. Case Sweden A.B. Sweden None

SUBSIDIARIES OF CASE CORPORATION
As of December 31, 1996

STATE OR OTHER OTHER NAME(S)
JURISDICTION OF UNDER WHICH
INCORPORATION OR SUBSIDIARY DOES
NAME OF SUBSIDIARY ORGANIZATION BUSINESS
- ------------------ ---------------- ---------------

J.I. Case Threshing Machine Company Wisconsin None

Jaxborough Pty. Ltd. Australia None

Kase, S.A. De C. V. Mexio None

Kestrin Pty. Ltd. Australia None

Lake Hull Pty. Ltd. Australia None

Liuzhou Case Liugong Construction China None
Equipment Company Limited

Masstock (Zambia) Limited Zambia None

Megavolt L.P. Delaware Limited None
Partnership

Poclain do Brasil S.A. Brazil None

Poclain GmbH Germany None

Poclain Limited United Kingdom None

Poclain Services North America Inc. Delaware None

PPM do Brasil Ltda. Brazil None

Pryor Foundry, Inc. Oklahoma None

Receivables Credit Corporation Alberta None

Servicios Case Mexicana, S.A. de C.V. Mexico None

Steiger Credit Canada Ltd. Saskatchewan None

Steiger Credit Company North Dakota None

Steiger International, Ltd. Guam None

Steyr Traktorem Handles GmbH Germany None

Tractorwork, Limited United Kingdom None

SUBSIDIARIES OF CASE CORPORATION
As of December 31, 1996

STATE OR OTHER OTHER NAME(S)
JURISDICTION OF UNDER WHICH
INCORPORATION OR SUBSIDIARY DOES
NAME OF SUBSIDIARY ORGANIZATION BUSINESS
- ------------------ ---------------- ---------------

Ukrainian Agricultural Development Co. Delaware None

Universaltrac Beteiligungs GmbH Germany None

UzCaseagroleasing Uzbekistan None

Versatile Credit Pty. Ltd. Australia None

Versatile Farm Equipment Pty. Ltd. Australia None