Deere to review strategic options for John Deere Water operations
MOLINE, Ill., Sept. 3, 2013 /CNW/ - Deere & Company announced today it will
review strategic options for its irrigation operations known as John Deere
Water and has retained Bank of America Merrill Lynch as exclusive financial
advisor to assist in the initiative. Deere said no formal decisions have been
made and no agreements have been reached concerning the company's irrigation
Deere noted that effective water management remains an important part of
agriculture worldwide. The company will continue to develop and offer products
and services to help customers better manage agronomic activities in the field.
While Deere will assess strategic options for its irrigation operations, it
remains committed to further enhancing products such as its in-field moisture
sensing and climate monitoring system known as John Deere Field Connect™ -
one of several elements in the company's John Deere FarmSight™ strategy.
Deere has been involved in the production of irrigation products for the past
seven years. John Deere Water is currently one of the world's largest
full-line drip irrigation manufacturers with global operations and significant
distribution in North and South America, Asia, Europe and Africa.
Deere & Company (NYSE: DE) is committed to the success of customers whose work
is linked to the land, providing advanced products and services to cultivate,
harvest, transform, enrich and build upon the land to meet the world's
dramatically increasing need for food, fuel, shelter and infrastructure. For
more information, visit John Deere at www.JohnDeere.com.
SOURCE Deere & Company
Ken Golden, Director, Global Public Relations, 309-765-5678
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CO: Deere & Company
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-0- Sep/03/2013 14:00 GMT
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