Deere Buys Stake In Chinese Equipment Maker

MOLINE, Ill. (AP) — Lawn-care and farming equipment maker Deere & Co. said it agreed to buy 50 percent of a Chinese construction equipment maker, expanding its presence in what is the company's fastest growing market.

 

Deere did not disclose terms of its deal for Xuzhou Xuwa Excavator Machinery Co., which is a unit of Xuzhou Bohui Science and Technology Development Co.

 

The purchase requires approval from the Chinese government.