logo
  

John Deere And Hitachi To End JV Agreements; John Deere To Acquire JV Factories

John Deere (DE) and Hitachi Construction Machinery have agreed to end the Deere-Hitachi joint venture manufacturing and marketing agreements. On Feb. 28, 2022, John Deere will acquire the Deere-Hitachi joint-venture factories in Kernersville, NC; Indaiatuba, Brazil; and Langley, British Columbia, Canada.

The companies will enter into new license and supply agreements, which will enable John Deere to continue to source, manufacture, and distribute the current lineup of Deere-branded excavators in the Americas.

John Deere and Hitachi stated their supply relationship in the early 1960s. In 1988, they started the Deere-Hitachi manufacturing joint venture to produce excavators in Kernersville, NC.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Royal Caribbean Group's ultra-luxury brand Silversea Cruises is set to launch the world's first hybrid-powered cruise ship in the summer of 2023. This will also be the first ship with large-scale fuel cell technology to enable emission-free port operations. The fuel cells will provide 100% of power while at port. Affco USA is recalling around 24,461 pounds of frozen raw lamb shoulder products that were not presented for import re-inspection into the U.S., the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS announced. The recall involves the frozen raw lamb shoulder items that were imported on July 12, 2021. American Express Company (AXP) reported an increase in profit for the third quarter that also topped Wall Street estimates. Consolidated total revenues net of interest expense rose 25 percent year-on-year, primarily reflecting growth in Card Member spending, as well as a rise in the average discount...
Follow RTT