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Deere Bids For Israeli Company’s Assets

Heavy equipment maker offered to buy certain assets and customer relationships of BHC Manufacturing, an Israeli manufacturer of repair parts for cotton-picking machines.

MOLINE, Ill. (AP) -- Heavy equipment maker Deere & Co. on Tuesday offered to buy certain assets and customer relationships of BHC Manufacturing, an Israeli manufacturer of repair parts for cotton-picking machines.

Financial terms were not disclosed.

Deere said its offer is contingent on satisfactorily completing due diligence. Deere said it expects to complete that review process in its fiscal second quarter, which runs February through April.

BHC Manufacturing is based near Beit Hashita, Israel, and employs about 110 people. In addition to making repair parts for cotton pickers, the company supplies cotton picker row units for other equipment manufacturers.

A purchase would allow Deere to expand its existing cotton picker business.

Deere shares added a penny to $53.27 in morning trading.

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