Deere & Co., makers of John Deere agricultural and construction equipment, will acquire the outstanding 50% of its tractor plant in Pune, India. The plant started operating in 2000 as a joint venture with Larsen & Toubro Ltd., producing transmissions and diesel engines as well as John Deere tractors for customers.
Terms of the Deere’s purchase were not released. It includes the manufacturing center in Pune, which employs 900.
"Our expansion in India strengthens our global reach as a company," said Robert W. Lane, Deere chairman and CEO. "While this action enhances our ability to serve customers in India, it also extends our capability to profitably serve tractor customers worldwide."