Deere Acquires Carbon Fiber Firm
08 March 2018
Deere & Company has signed a definitive agreement to acquire King Agro, a manufacturer of carbon fiber products with headquarters in Valencia, Spain, and a production facility in Campana, Argentina.
“This transaction provides John Deere customers the chance to benefit further from King Agro’s unique knowledge, designs, and expertise in carbon fiber technology,” said John May, president, Agricultural Solutions and chief information officer for John Deere.
In 2015, John Deere and King Agro agreed to develop and distribute carbon fiber booms for the former’s application equipment, which it said offers growers carbon fiber’s versatility, strength and durability in self-propelled spraying equipment.
May said the transaction will provide benefits in sharing best practices in product development, manufacturing, technology, as well as in scale as King Agro builds on a history of innovation.
King Agro has been a family-owned business with approximately 180 employees and a 30-year history of developing carbon fiber products.
It will retain its brand name, trademark, and commercial relationships, John Deere said.