By Dave Sebastian

 

John Deere and Hitachi Construction Machinery said they have agreed to enter into new license and supply agreements that will let John Deere continue sourcing, manufacturing and distributing Deere-branded excavators in the Americas.

The companies also agreed to end the Deere-Hitachi joint venture manufacturing and marketing agreements, John Deere said Thursday.

John Deere also said it will buy the Deere-Hitachi joint-venture factories in Kernersville, N.C.; Indaiatuba, Brazil; and Langley in Canada's British Columbia.

John Deere and Hitachi's supply relationship dates back to the early 1960s. They started the manufacturing joint venture to make excavators in 1988.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

August 19, 2021 09:22 ET (13:22 GMT)

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