MOLINE (dpa-AFX) - John Deere (DE) said it has acquired full ownership of three Deere-Hitachi joint venture factories and has begun new license and supply agreements with Hitachi Construction Machinery.
The two companies have ended their joint venture manufacturing and marketing agreements.
The company noted that the former joint venture factories will continue to manufacture Deere-branded construction excavators and forestry equipment; they will discontinue production of Hitachi-branded products. The locations will now be John Deere Kernersville, Kernersville, N.C.; John Deere Specialty Products, Langley, British Columbia, Canada; John Deere Brasil Escavadeiras, Indaiatuba, Brazil.
Through a new supply agreement with Hitachi, Deere will continue to offer a full portfolio of excavators.
Deere's marketing arrangement for Hitachi-branded construction excavators and mining equipment in the Americas has ended; Hitachi has assumed distribution and support of these products.
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