John Deere big in China

Deere & Co. has finalized its purchase of Chinese tractor manufacturer Ningbo Benye Tractor & Automobile Manufacture Co. Ltd.

Deere's goal with this acquisition is two-fold:

1. Expand their product line for Chinese farmers
2. Enhance worldwide capacity to produce low horsepower tractors.

Deere already builds 60-120 horsepower tractors through their John Deere Tiantuo Company joint venture with China's Tianjin Tractor Manufacturing Company. Deere owns 51 percent of that.

Ningbo Benye manufactures tractors in the 20-50 horsepower range. They are largest tractor-maker in southern China and sell 95 percent of their units within China, although they've already exported to 70 countries.

Deere says they will use their newfound capacity to address other markets in Asia, Africa and the Commonwealth of Independent States.

Tags: Deere, John Deere, Deere and Co., Ningbo Benye Tractor & Automobile Manufacture Co. Ltd., Ningbo Benye,  John Deere Tiantuo Company, Tianjin Tractor Manufacturing Company, Tianjin Tractor, agricultural equipment, tractors

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