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Deere to Acquire Spanish Carbon Fibre Technology Products Manufacturer King Agro.

M2 EQUITYBITES-March 5, 2018-Deere to Acquire Spanish Carbon Fibre Technology Products Manufacturer King Agro

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5 March 2018 - US-based agriculture, construction and lawn and garden equipment manufacturer Deere and Company (NYSE: DE) has signed a definitive agreement to acquire Spanish carbon fibre technology products manufacturer King Agro, the company said.

King Agro has headquarters in Valencia, Spain and a production facility in Campana, Argentina.

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 fibre's versatility, strength and durability in self-propelled spraying equipment.

King Agro has been a family-owned business with approximately 180 employees and an extensive 30-year history of developing various carbon fiber products.

In agriculture, the company has targeted innovative designs that improve productivity and lower costs. King Agro will retain its brand name, trademark, and commercial relationships.

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Date:Mar 5, 2018
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