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Monosem make precision planting equipment.
John Deere says it will buy the French company Monosem, a designer and maker of precision planting equipment. The purchase includes four factories in France and two in the US.
John May, Deere's president of agricultural solutions and chief information officer, said "with this purchase we will consolidate our... leadership in precision agriculture. Monosem has shown innovation and success in precision planting technology that is admired worldwide, and the acquisition of a market leader will allow John Deere to serve more customers worldwide."
Monosem has been family owned by three generations since its foundation in 1948. Deere has no plans to change the independent nature of the business which will continue to operate under its own brands and trademark.
May says acquiring Monosem "will help accelerate John Deere's market reach in precision planting equipment and add engineering expertise in further developing precision planting solutions".
While tractors combines and machinery for agriculture and construction is still its key business, John Deere appears to be taking opportunities in the hightech sector via acquisition, with the recent purchase of Sentera, a Minnesota-based company that specialises in equipment for capturing and interpreting aerial images.
John Deere have recently announced upgrades to its round baler offerings, with all models of this latest generation equipped with advanced ISOBUS capabilities, allowing them to be fully integrated into the John Deere Operations Center.
With agriculture in New Zealand coming out of the doldrums over the last few months and the recent announcement of a 20% tax write-off for capital purchases, it likely that farmers will be spending on tractors.
Recent results from its 2024 financial year has seen global farm machinery player John Deere record a significant slump in the profits of its agricultural division over the last year, with a 64% drop in the last quarter of the year, compared to that of 2023.
Farmers across New Zealand are renowned for their productivity and efficiency, always wanting to do more with less, while getting the most from each pass of the paddock.
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