MOLINE, Ill., June 5 /PRNewswire-FirstCall/ -- Deere & Company said today that it has completed the acquisition of Plastro Irrigation Systems, Ltd., headquartered in Israel, to add significant momentum to the growth of John Deere Water Technologies. Terms of the transaction were not disclosed.
Deere will combine Plastro with its current John Deere Water Technologies operations and T-Systems International, which Deere announced it had acquired in late May. The joint operations establish John Deere as the third largest agricultural irrigation company in the world.
"This sale demonstrates that we have been on the right course in our continuing effort to create value as a company," said Yonatan Bassi, chairman of Plastro Irrigation.
Michael McGrady, president of John Deere Water Technologies, said, "Precision irrigation will help the world meet its demand for increased productivity from agriculture. The world's population growth, demand for improved nutrition globally, and increased interest in renewable fuels all require much more precision in the management of the world's fresh water and arable land."
John Deere Water Technologies, San Marcos, California, is a manufacturer of high performance plastic micro and drip irrigation products for the agricultural, nursery, landscape, and greenhouse markets and was formed in June of 2006 when Deere & Company purchased Roberts Irrigation Products, Inc.
Plastro Irrigation was established in Israel in 1966 and is a leading provider of irrigation system components including peripheral equipment; agro-technical consultation; design and planning; installation assistance; and training.
Deere & Company is the world's leading provider of advanced products and services for agriculture and forestry and a major provider of advanced products and services for construction, lawn and turf care, landscaping and irrigation. John Deere also provides financial services worldwide and manufactures and markets engines used in heavy equipment.
