Deere & Company DE 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 operations.
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.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in