) said on Tuesday it has acquired a majority stake in Hagie Manufacturing, allowing the farm and construction machinery manufacturer to enter the high-clearance sprayer market. crop sprayer manufacturer, employs about 400 people at its Clarion, Iowa manufacturing facility.
Deere has been very supportive, encouraging consolidation.
They see the benefits of scale, being able to have specialists, sharing assets, inventory and that sort of thing.
Due to slowed agriculture equipment sales in the wake of the sluggish farm economy, Deere has already announced hundreds of layoffs from its own facilities.
“We are encouraging our independent dealers to consider employing Hagie field staff for their expertise in high clearance sprayers,” a Deere spokesperson said.
We do a lot of stock matching and RSP plans to encourage all employees to be owners. We look at 15 to 20 percent annual growth – half through acquisitions and half organically. When we bought Saskatoon, we started out with two owners each holding 10 percent of the dealership privately, but they eventually converted their interest into CERVUS units.