RTTNews | Dec 14, 2021 10:07AM EST

10:06 Tuesday, December 14, 2021 (RTTNews.com) - Deere & Co. (DE) agreed to acquire majority ownership in Kreisel Electric, Inc., a battery technology provider based in Rainbach im Mhlkreis, Austria. Financial details are not being disclosed.

Kreisel Electric will retain its employees, brand name, and trademark, and continue to operate from its current location in Austria to serve its growing customer base. The company was founded by brothers Johann, Markus, and Philipp Kreisel, and has approximately 160 full-time employees.

The transaction requires final regulatory approval in Austria, with closing expected to take place in approximately 60 days.

Read the original article on RTTNews ( https://www.rttnews.com/3249198/deere-co-to-acquire-majority-ownership-in-kreisel-electric-terms-undisclosed.aspx)

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