Deere & Company has signed a definitive agreement to acquire King Agro, a leading, privately-held manufacturer of carbon fibre technology products with headquarters in Valencia, Spain and a production facility in Campana, Argentina.
“This transaction provides John Deere customers with the chance to benefit further from King Agro’s unique knowledge, designs and expertise in carbon fibre technology,” said John May, John Deere’s president, agricultural solutions & chief information officer.
In 2015, John Deere and King Agro agreed to develop and distribute carbon fibre booms for John Deere spray application equipment in agriculture, offering growers the significant advantages of carbon fibre’s versatility, strength and durability in self-propelled sprayers.
May said the transaction will provide benefits in sharing best practices in product development, manufacturing, technology and scale, as King Agro builds on a history of innovation.
King Agro has been a family-owned business with approximately 180 employees and an extensive 30-year history of developing various carbon fibre products. In agriculture, the company has targeted innovative designs that improve productivity and lower costs. King Agro will retain its brand name, trademark and commercial relationships.
Deere & Company ( www.JohnDeere.com ) is a world leader in providing advanced products and services and is committed to the success of customers whose work is linked to the land – those who cultivate, harvest, transform, enrich and build upon the land to meet the world’s dramatically increasing need for food, fuel, shelter and infrastructure. Since 1837, John Deere has delivered innovative products of superior quality built on a tradition of integrity.