BusinessMarch 13, 2000
BUSINESS MEMO: DEER TO ENTER CHINA
Deere & Co., headquartered in Moline, Ill., plans to enter the equipment rental business in China by purchasing a majority interest of a company in Shanghai, officials said Thursday. Under the deal, John Deere Construction Equipment Co. would buy 60 percent of Shanghai GE Construction Equipment Engineering Co. Ltd. from GE Capital Corp. and another 20 percent from American Construction Equipment Co. The sale is conditioned on approval from the Chinese government...
Deere & Co., headquartered in Moline, Ill., plans to enter the equipment rental business in China by purchasing a majority interest of a company in Shanghai, officials said Thursday.
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Under the deal, John Deere Construction Equipment Co. would buy 60 percent of Shanghai GE Construction Equipment Engineering Co. Ltd. from GE Capital Corp. and another 20 percent from American Construction Equipment Co. The sale is conditioned on approval from the Chinese government.
The new company would be known as Shanghai Deere Rental Equipment Co. Ltd.
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