Deere (DE) announced this week that it closed an acquisition of Israel's Plastro Irrigation Systems. As a result, John Deere is now the World's 3rd Largest Agricultural IRRIGATION company !* Financial terms of the acquisition have not yet been disclosed
* Plastro Irrigation was established in 1966 and is a leading provider of irrigation system components including 'peripheral equipment; agro-technical consultation; design and planning; installation assistance; and training'...With operations in France and Spain, Plastro also enjoys a significant presence in Western Europe.
* John Deere Water Technologies manufactures 'high performance plastic micro and drip irrigation products for the agricultural, nursery, landscape, and greenhouse markets'.
Michael McGrady, President of John Deere Water Technologies: "Precision irrigation will help the world meet its demand for increased productivity from agriculture. The world's population growth, demand for improved nutrition globally, and increased interest in renewable fuels all require much more precision in the management of the world's fresh water and arable land."
Data Courtesy: Deere Press Release
Full Disclosure: I own shares of DE.
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