MOLINE, ILLINOIS – Deere&Company has signed a definitive agreement to acquire KingAgro, a privately-held manufacturer of carbon fiber technology products with headquarters in Valencia, Spain and a production facility in Campana, Argentina.
“This transaction provides JohnDeere customers the chance to benefit further from KingAgro’s unique knowledge, designs, and expertise in carbon fiber technology,” said JohnMay, President, Agricultural Solutions & Chief Information Officer, at JohnDeere.
In 2015, JohnDeere and KingAgro agreed to develop and distribute carbon fiber booms for JohnDeere application equipment in agriculture, offering growers the significant advantages of carbon fiber’s versatility, strength and durability in self-propelled spraying equipment.
May said the transaction announced today will provide benefits in sharing best practices in product development, manufacturing, technology, as well as in scale as KingAgro builds on a history of innovation.
KingAgro has been a family-owned business with approximately 180 employees and an extensive 30-year history of developing various carbon fiber products. In agriculture, the company has targeted innovative designs that improve productivity and lower costs. KingAgro 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, JohnDeere has delivered innovative products of superior quality built on a tradition of integrity.