MOLINE, IL, June 5 /CNW/ -- Deere & Company said today that it has
completed the acquisition of Plastro Irrigation Systems, Ltd., headquartered
in Israel, to add significant momentum to the growth of John Deere Water
Technologies. Terms of the transaction were not disclosed.
Deere will combine Plastro with its current John Deere Water Technologies
operations and T-Systems International, which Deere announced it had acquired
in late May. The joint operations establish John Deere as the third largest
agricultural irrigation company in the world.
"This sale demonstrates that we have been on the right course in our
continuing effort to create value as a company," said Yonatan Bassi, chairman
of Plastro Irrigation.
Michael McGrady, president of John Deere Water Technologies, said,
"Precision irrigation will help the world meet its demand for increased
productivity from agriculture. The world's population growth, demand for
improved nutrition globally, and increased interest in renewable fuels all
require much more precision in the management of the world's fresh water and
John Deere Water Technologies, San Marcos, California, is a manufacturer
of high performance plastic micro and drip irrigation products for the
agricultural, nursery, landscape, and greenhouse markets and was formed in
June of 2006 when Deere & Company purchased Roberts Irrigation Products, Inc.
Plastro Irrigation was established in Israel in 1966 and is a leading
provider of irrigation system components including peripheral equipment;
agro-technical consultation; design and planning; installation assistance; and
Deere & Company (NYSE: DE) is the world's leading provider of advanced
products and services for agriculture and forestry and a major provider of
advanced products and services for construction, lawn and turf care,
landscaping and irrigation. John Deere also provides financial services
worldwide and manufactures and markets engines used in heavy equipment.
For further information:
For further information: Ken Golden, Director, Strategic Public
Relations of Deere & Company, +1-309-765-5678