Deere to Expand in Australia, New Zealand

John Deere plans to expand in Australia and New Zealand and appoint its one-time chief economist to lead the charge.

Luke Chandler, who has become managing director for the two countries, said he will target growth in construction and forestry. Chandler said Deere will also boost its business in precision agriculture.

“Around 60 percent to 65 percent of agriculture production is exported, so Australian and New Zealand farmers need to be extremely competitive in the world market,” he said.

Australia is a commodities powerhouse, being a large exporter of goods ranging from barley and wheat to iron ore and natural gas, while New Zealand dominates the global dairy market.

Deere’s business in Australia, New Zealand, Asia, Africa and the Middle East accounts for almost 10 percent of the company’s total revenue.

Source: Bloomberg