Reading Time: < 1 minute Deere & Co said on Wednesday it would cut an unspecified number of production and salaried jobs to save costs as it grapples with a downturn in farm equipment demand.
Tag Archives farm equipment
Deere announces job cuts to tackle slowing farm equipment demand
Rite Way and Morris to operate under new parent company
Reading Time: < 1 minute Farmers may soon begin seeing new names appearing on the sides of implements made by Rite Way Manufacturing and Morris Equipment as the two brands begin operating under parent company Superior Farms Equipment Ltd.
Too many tractors: As boom times fade, farm equipment piles up
Reading Time: 3 minutes Falling crop prices are leaving American agriculture equipment sellers with an excess of unsold tractors and combines. To cope with the surplus, dealers are discounting machines, suspending new orders, and even auctioning off equipment at reduced prices.
CNH Industrial cuts 2024 profit view as soft agriculture demand bites
Reading Time: 2 minutes CNH Industrial cut its annual profit forecast on Thursday, squeezed by slowing demand for its tractors and farm equipment as choppy crop prices and higher borrowing costs hinder farmers from making big-ticket farming purchases.
Deere cuts 2024 profit view as borrowing costs hurt demand
Executives expressed caution about margin performance amid weakening farm economy
Reading Time: 2 minutes Deere & Co cut its 2024 profit forecast on Thursday as farmers remained hesitant about big-ticket equipment purchases due to high borrowing rates and falling crop prices, even as its first-quarter sales and profit topped Wall Street estimates.
Linamar makes Bourgault buyout official
Company says it hopes to double Bourgault's business in five years
Reading Time: < 1 minute Linamar's acquisition of air-drill manufacturer Bourgault has officially gone through, the company announced yesterday.
Başak Traktör of Turkey looks to move Versatile brand forward
Buhler Industries announced the Turkish firm had bought its majority stake
Reading Time: 4 minutes “One of the keys for us was making sure we found a partner that was committed to preserving the Versatile and Farm King brands,” said Adam Reid, VP of sales and marketing at Versatile. “We wanted to make sure the viability of the plant here in Winnipeg and our staff was secure. And taking care of all of our stakeholders, the suppliers, shareholders.”
Bourgault becomes third shortliner acquired by Linamar since 2017
Leadership say they want to double the business of the maker of Highline equipment and Freeform Plastics
Reading Time: 3 minutes In 2017 Linamar, a company best known as an auto parts manufacturer, purchased Winnipeg-based header and swather manufacturer MacDon. It followed that up by bringing implement brand Salford into its fold in 2022. In late December the company announced it is now adding Saskatchewan-based air drill manufacturer Bourgault into its family of shortline ag equipment brands.
Buhler Industries finds new majority shareholder in Turkish firm
Saskatchewan's Bourgault Industries changes hands
Reading Time: 2 minutes It was a big week for western Canadian machinery manufacturers as Winnipeg-based Buhler industries inked a deal that will see a Turkish company purchase its majority stake, and Guelph-based manufacturer Linamar Corporation acquired Saskatchewan’s Bourgault Industries.
Tractors continue unusually strong sales in November
Many types of machinery have seen price hikes of around 30 per cent or more
Reading Time: 2 minutes The growing price of farm equipment is not dissuading farmers from buying new machinery, according to the latest data from the Association of Equipment Managers (AEM).