John Deere buys European planter company

Deere & Co. announced Monday that it has made an agreement to acquire the European precision planter maker Monosem.

"Through this action, we continue to build on our leadership position in precision agriculture," John May, president of agricultural solutions and chief information officer, said. "Monosem is admired for its innovation and success in precision planter technology that helps farmers increase production. Acquiring this market leader positions John Deere to serve more customers worldwide."

Along with ownership of the company, Deere will take ownership of six Monosem facilities, four in France and two in the U.S. Monosem, a three-generation, family-operated business, will retain its brand and trademark.

Monosem is known for custom building each of its precision planters according to customer needs, a process that has helped the company develop unique engineering experience over the years. May said having access to this experience will be an asset for John Deere, as the company continues to push for an expanded presence in the planting equipment market.

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