Deere to Buy Chinese Factory
Sep 1, 2007 12:00 PM
Deere & Company plans to buy a small-tractor manufacturing plant in China to begin offering low-horsepower tractors to Chinese farmers. Deere will purchase Ningbo Benye Tractor & Automobile Manufacture Company Ltd. from Ningbo in southern China.
The Benye tractor plant builds tractors in the 20- to 50-hp range. Deere reports that the small-tractor market in China is growing because rice farms there are becoming more mechanized. Deere operates two other manufacturing plants in China: a wholly owned facility located at Jiamusi, where Deere builds combines and tractors, and a joint-venture factory in Tianjin, where it builds 60- to 120-hp tractors.
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