Deere & Company has been a manufacturer of agricultural equipment for over 180 years, ever since Illinois blacksmith John Deere created a self-scouring polished steel plow in 1837. Members of the Deere family continued to lead the company for the next 140 years, as it expanded its range of products and global footprint. The key development was the acquisition of Waterloo Boy gasoline-powered tractors in 1918, which took the business into engine-powered machinery for the first time. Deere now makes a variety of equipment ranging from industrial tractors and combine harvesters to residential garden mowers. There are joint ventures with Hitachi in the Americas and with Ashok Leyland in India to manufacture construction and forestry heavy machinery. The John Deere brand joined the ranks of Interbrand's Best Global Brands for the first time in 2011. For the year to Oct 2013, revenues hit record highs of almost $38bn, but have fallen back since then as a result of a slowdown in the global farming economy. Topline for the year to 2016 slipped back to multi-year lows of $26.6bn, before rebounding over the next two years. Revenues for ye 2018 jumped 26% to $37.4bn. Agricultural & turf equipment (including industrial harvesters, tillers and sprayers as well as consumer lawnmowers) accounted for around two-thirds of equipment sales, and construction & forestry for the balance. Sam Allen is CEO. Subscribers may access account assignments and contact information. The searchable account assignments database is available to full subscribers to Adbrands.net premium services. Click here to access Adbrands account assignments (subscribers only); or see here for information on how to subscribe.
Capsule checked 18th December 2018
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