Deere Continues Expansion in India

MOLINE, Ill. – Deere & Co. said on Monday that it will acquire the remaining 50 percent share of its tractor joint venture in Pune, India – an operation that manufactures transmissions and diesel engines and also builds the familiar green and yellow John Deere tractors for customers in India and around the world. Terms of the transaction were not disclosed.

"Our expansion in India strengthens our global reach as a company," said Robert Lane, Deere & Company chairman and chief executive officer. "While this action enhances our ability to serve customers in India, it also extends our capability to profitably serve tractor customers worldwide."

Deere will purchase the remaining 50 percent share from Larsen & Toubro, including the joint venture's world class manufacturing facility in Pune that started production in 2000 and currently employs 900 people.

John Deere equipment made by the joint venture has steadily increased its share of India's higher horsepower tractor market and also has become a favorite in the United States and other countries for John Deere customers who are seeking a lower-horsepower, highly reliable tractor.