MOLINE, Ill. (Nov. 3, 2008) – Deere & Company said it has acquired full ownership of ReGen Technologies, Inc, a remanufacturing company located in Springfield, Missouri. Deere had already owned 50 percent of the business.
John Deere said the operations will be more fully integrated with remanufacturing operations in Edmonton, AB, Canada and the overall name of the business will be John Deere Reman -- an organization focused on growing Deere’s remanufacturing business globally.
“We aspire to an enhanced leadership position in the remanufacturing business,” said Barry Schaffter, senior vice president of manufacturing in Deere’s Construction & Forestry division. “ReGen has delivered impressive business results through a dedication to quality and ingenuity.”
ReGen was founded in 1998 to remanufacture engines for John Deere products in the US & Canada and has broadened its product line since then to include other engine components, fuel injection systems, starters, alternators, air conditioning components and other key parts for John Deere customers of agricultural, construction and forestry equipment around the world. Schaffter said the remanufacturing business is important to Deere because of the environmental benefit that comes from recycling components of heavy equipment. Financial details of the transaction were not released.
Deere & Company (NYSE: DE) is the world's leading provider of advanced products and services for agricultural and forestry and a major provider of advanced products and services for construction, lawn and turf care, landscaping and irrigation. John Deere also provides financial services worldwide and manufactures and markets engines used in heavy equipment. Since it was founded in 1837, the company has extended its heritage of integrity, quality, commitment and innovation around the globe. John Deere Construction & Forestry produces more than 120 machine models and distributes its construction, forestry and worksite products. For more information, visit www.johndeere.com.
FOR IMMEDIATE RELEASE: Nov. 3, 2008
For more information:
John Deere Reman
Phone: (309) 765-1970
Fax: (309) 748-0117