John Deere Expands Presence in China

Deere & Co., Moline, Ill., has announced it will expand its presence in the world’s largest growing market for construction equipment by entering into a joint venture with China.

Deere says it has signed a definitive agreement to own 50 percent of Xuzhou Xuwa Excavator Machinery Co. Ltd. (XCG), a subsidiary of Xuzhou Bohui Science and Technology Development Co. Ltd. The companies are seeking review of the transaction by government approval authorities in China.

According to a press release from John Deere, XCG was viewed as a viable partner for the Chinese market because of its strong domestic position as a leading Chinese manufacturer of construction equipment with a broad excavator product line of 14 models. Currently, XCG is the third largest domestic excavator manufacturer in China with dealers covering all but two provinces in the Chinese market.

More information is available at www.deere.com.