John Deere is increasing its expertise in carbon-fiber technology, with the acquisition of King Agro. A definitive agreement to take over the privately-owned carbon-fiber manufacturer was signed by Deere & Company management.
“This transaction provides John Deere customers with the chance to benefit further from King Agro’s unique knowledge, designs and expertise in carbon-fiber technology,” said John May, John Deere’s president for agricultural solutions and chief information officer.
The acquisition extends the relationship between the two firms that first started in 2015 when the Valencia, Spain-headquartered King Agro agreed to develop and distribute carbon-fiber booms for John Deere’s agricultural business.
May added, “This transaction will provide us with benefits in sharing best practices in product development, manufacturing, technology and scale, as King Agro builds on a history of innovation.”
With production facilities in Campana, Argentina, the family-owned company has been in business for over three decades, employing approximately 180 staff. The brand name, trademark and commercial relationships it possesses will be retained.
March 9, 2018