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AnonymousUser 7738 57 Solid. Stable... either
Solid. Stable. Still...
Re: Solid. Stable...
PRESS RELEASE by JOHN DEERE (22 April, 1993)
MOLINE, ILLINOIS- Deere & Company today announced the
signing of co-operative agreements with Zetor s.p. and Brno
Diesel, both of the Czech Republic, with respects to
agricultural tractors and diesel engines.
Under the terms of the agreement, Deere & Company has
secured "certain distribution rights" to the Zetor line of
40-85 h.p. agricultural tractors and the Brno Diesel line of
engines. Deere's distribution of the Zetor and Brno Diesel
products will be phased in over the next few years. Initial
distribution plans are targeted to markets in Latin America
and the Far East.
In addition, a variety of (joint engineering) projects will
be undertaken. Deere also has the option to make future
investments in Zetor and Brno Diesel if it is determined to
be mutually beneficial.
Deere & Company Chairman and Chief Executive Officer Hans W.
Becherer said, "The agreements with Zetor & Brno Diesel
offer Deere access to "lower-price product lines" that are
complementary to Deere's current products, and that can be
effectively targeted to market segments of importance to the
company around the world"
With these agreements, Deere is better positioned to take
advantage of the growth opportunities in emerging markets,"
Becherer said. Terms of the transaction were not disclosed.
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