John Deere to acquire carbon fiber manufacturer King Agro
Deere & Company has signed a definitive agreement to acquire King Agro a privately-held manufacturer of carbon fiber technology products.
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Deere & Company (Moline, IL, US) announced March 2 it has signed a definitive agreement to acquire King Agro (Valencia, Spain), a privately-held manufacturer of carbon fiber technology products with headquarters in Valencia, Spain and a production facility in Campana, Argentina.
"This transaction provides John Deere customers the chance to benefit further from King Agro's unique knowledge, designs and expertise in carbon fiber technology," says John May, president of agricultural solutions and chief information officer at John Deere.
In 2015, John Deere and King Agro agreed to develop and distribute carbon fiber booms for John Deere application equipment in agriculture, offering growers the advantages of carbon fiber's versatility, strength and durability in self-propelled spraying equipment.
May said the transaction will provide benefits in sharing best practices in product development, manufacturing, technology, as well as in scale as King Agro builds on a history of innovation. King Agro will retain its brand name, trademark and commercial relationships.
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