MOLINE, IL — John Deere (NYSE: DE) has acquired full ownership of three Deere-Hitachi joint venture factories and has begun new license and supply agreements with Hitachi Construction Machinery. Effective today, the two companies have ended their joint venture manufacturing and marketing agreements.
The changes were announced in August 2021 and were contingent upon regulatory approvals.
- 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 referred to as:
- 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. Deere dealers may continue to support their existing field population of Hitachi-branded excavators.
With the completion of this acquisition, John Deere now controls its excavator design, product, and feature updates, making it possible to more rapidly respond to customer requirements and integrate excavators with other Deere construction products.