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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: June 29, 1999
(Date of earliest event reported)
D E E R E & C O M P A N Y
(Exact name of registrant as specified in charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-4121
(Commission File Number)
36-2382580
(IRS Employer Identification No.)
One John Deere Place
Moline, Illinois 61265
(Address of principal executive offices and zip code)
(309)765-8000
(Registrant's telephone number, including area code)
_______________________________________
(Former name or former address, if changed since last report.)
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<PAGE>
Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(c) Exhibits
(99) Press release and additional information.
Page 2
<PAGE>
Signature
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned hereto duly authorized.
DEERE & COMPANY
By: /s/ John O. Hayes
----------------------------
John O. Hayes,
Assistant Secretary
Dated: June 29, 1999
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<PAGE>
Exhibit Index
Sequential
Number and Description of Exhibit Page Number
(99) Press release and additional information Pg. 5
Page 4
<PAGE>
EXHIBIT 99
(DEERE LOGO) News media contact:
Ken Golden
Manager, Public Relations
309/765-5678
e-mail: [email protected]
FOR IMMEDIATE RELEASE - 29 June 1999
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Deere to increase Brazilian investment
with full ownership of SLC-John Deere S.A.
MOLINE, Ill. - Deere & Company and Schneider Logemann S.A.
jointly announced today that Deere is increasing its Brazilian
investments and will own 100 percent of SLC-John Deere, a
Brazilian farm equipment manufacturer in which Deere first
invested in 1979.
Deere currently owns 40 percent of the joint venture but
will complete an agreement to become full owner of the company,
which manufactures combines, tractors and planters for the
Brazilian, South American and European markets.
"Deere is committed to expanding its activities in South
America," said Bernie Hardiek, President of Deere's Worldwide
Agricultural Equipment Division. "During our 20-year
relationship, SLC-John Deere management introduced John Deere
product technology to the Brazilian market and captured a
significant market position. This investment recognizes that
success and enables Deere to continue to grow in the
agricultural equipment markets of Brazil and the remainder of
South America."
SLC-John Deere has developed a broad dealer organization to
serve the Brazilian market. Headquartered in the State of Rio
Grande do Sul, Brazil, SLC-John Deere has a 450,000 square foot
factory, a parts depot and a credit operation. The company
employs approximately 1,900 people and produces farm equipment
with the SLC-John Deere brand for Brazil and with the John
Deere brand for Argentina, the rest of South America and
Europe.
In the past year, Deere also constructed a new factory for
producing sugar cane harvesting equipment in the City of
Catalao, Goias, Brazil. "These investments strengthen our
position worldwide and emphasizes our commitment to global
growth," Hardiek said.
Current management of SLC-John Deere remains intact and
will be part of Deere's overall Worldwide Agricultural
Equipment Division. Terms of the investment were not disclosed.
Deere & Company (www.deere.com), Moline, Illinois, is the
world's largest producer of agricultural equipment and also is
a leading manufacturer of equipment for construction, forestry,
public works, lawn care and turf care. Additionally, the
company provides credit, managed care and insurance services.
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