Catch the wind

Deere & Company is to acquire the remaining 50% share of its tractor joint venture in Pune, India for an undisclosed sum.

The Indian operation manufactures transmissions and diesel engines and also builds the familiar green and yellow John Deere tractors for customers in India and around the world.

Deere will purchase the remaining 50% share from Larsen & Toubro, Limited, including the joint venture’s manufacturing facility in Pune that started production in 2000 and currently employs 900 people.

Aside from the Indian tractor venture, Deere also recently announced that it has made equity investments in several wind energy projects in the rural US and has created a business unit to provide project development, debt financing and other services to those interested in harvesting the wind. Deere aded that it has no plans to manufacture wind turbines itself.

Deere has invested in wind energy projects located in Minnesota and Texas, is considering projects in other states of the US and has reviewed projects in other countries.

The company’s new wind energy business unit will be managed by John Deere Credit.