RTTNews | Aug 19, 2021 09:51AM EDT

09:51 Thursday, August 19, 2021 (RTTNews.com) - 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.

Read the original article on RTTNews ( https://www.rttnews.com/3219983/john-deere-and-hitachi-to-end-jv-agreements-john-deere-to-acquire-jv-factories.aspx)

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