Expert Chaslau Koniukh
  • Companies
  • Global investment
  • Investors
  • Terminology
  • Economy
  • Stock Market
  • World exchanges
  • Tech and Marketing
Deere Company-2
Companies and corporations

History of the founding and development of the Deere Company

21.11.2021
2 min read

How the Deere Company brand of special equipment was created

American company Deere Company is known around the world as a manufacturer of special equipment, as well as diesel engines. The range includes various means for construction works, logging industry, agricultural industry and others. One more direction of Deere activity is financial services.
The founder of the company was John Deere, who was born in 1804. At the age of 20 he took a job as an apprentice, where in addition to the main activity he realized his own ideas. One of his first successful projects was a plow that worked effectively on land with high viscosity. It quickly gained popularity with farmers, and the young man began making the device to order. By 1848, he was producing a thousand plows a year, and in addition, he was also producing cultivators and other farming devices. Twenty years later the company grew into a corporation, and after the founder died, his son Charles Deere took his place. The businessman united several equipment manufacturers under one brand, which significantly expanded the supply chain.
Deere developed its products following the progress and needs of customers. In 1914, the company released its first tractor, and large-scale production began 4 years later. Thanks to this, the corporation has become a leader in the U.S. market for the production of such equipment and diesel engines.Deere was taken over by the grandson of John Deere, who managed to keep the company afloat even during the Great Depression and World War II. In 1947, the company began production of a new tractor, which was subsequently modified into a bulldozer, adding crawler tracks to the design.
A new stage of Deere development began in 1955 with the arrival of William Hewitt to the company. The corporation opened its first production facility outside the U.S., a plant was opened in Mexico. Deere actively expanded through the acquisition of a manufacturer from Germany. Thanks to him, the company entered the European market, and later appeared in Argentina and Africa.
In 1958, a financial department was opened where customers could get leasing or take credit for purchasing equipment. By 1973 the annual turnover of Deere was $2 billion, and 6 years later – $4 billion.
Now experts estimate the company is worth almost $6 billion. It is one of the 100 best companies in the world. Deere machines and equipment are sold in 120 countries, with an annual turnover of more than $30 billion.
The corporation pays special attention to developments and implementation of innovative solutions. Every year $1.5 million is allocated for this division.

Tags: Companies and corporations
0
Previous Post Analysts predict an increase in palladium prices Next Post Louis Bacon: biography of an entrepreneur and philanthropist

You Might Also Like

PNC Financial Services Group
Companies and corporations
Financial Corporation PNC Financial Services Group
24.02.2021
Ameriprise Financial
Companies and corporations
Ameriprise Financial financial holding company: sphere of activity
07.10.2020
Agricultural Bank of China
Companies and corporations
Agricultural Bank of China is one of the giants of the Chinese banking industry
26.12.2020
Santander Bank-2
Companies and corporations
History of the founding and development of Spain’s largest Santander bank
01.12.2021
Thermo company
Companies and corporations
Thermo Fisher Scientific company: overview of education and field of activity
04.07.2021
Palantir Technologies
Companies and corporations
The secret activities of the most mysterious company Palantir Technologies
09.06.2020

Recent Posts

  • 1The concept of financial management-1
    The concept of financial management in terms of the investment horizon
    18.05.2022
  • 2The state of the U.S. economy
    Moody’s Analytics experts have assessed the state of the U.S. economy
    17.05.2022
  • 3Ford invests
    American concern Ford invests in plant construction
    16.05.2022
  • 4Dunamu
    Cryptocurrency exchange operator Dunamu attracted $85 million in investments
    15.05.2022
  • 5artificial intelligence technology in banking
    Artificial intelligence: applications for banking
    14.05.2022

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • The authorities of Venezuela are planning to make payments in yuan

Social media

Editor's Picks

Chaslau Koniukh
Analytics

American bankers from JPMorgan and Goldman Sachs advise to invest in gold: review by Chaslau Koniukh.

Press Secretary
17.08.2020
Expert Chaslau Koniukh
Analytics

Chaslau Koniukh on the analysts’ opinion on the key stake size change soon

Press Secretary
18.06.2020
expert Chaslau Koniukh
Analytics

Chaslau Koniukh: Internet trade market in Russia may reach 2.78 trillion rubles.

Press Secretary
30.05.2020
Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh
Analytics

Will the U.S. oil shale industry be able to quickly recover from the crisis: A Review by Chaslau Koniukh

Press Secretary
16.05.2020

Latest Posts

The concept of financial management-1
The concept of financial management in terms of the investment horizon
18.05.2022
The state of the U.S. economy
Moody’s Analytics experts have assessed the state of the U.S. economy
17.05.2022
Ford invests
American concern Ford invests in plant construction
16.05.2022

Chaslau Koniukh

Expert Chaslau Koniukh

Chaslau Koniukh – an expert in marketing and project management, IT consulting, international investments, investor, financial analyst. A commodity trader, private consultant, entrepreneur, lecturer, author of several articles on the stock market.

Popular Posts

  • Skolkovo analysts: the Russian energy market is suffering losses
  • Businessman Chuck Feeney: the man who gave the world Duty Free
  • Field of activity of the American Monsanto Company Corporation
  • The authorities of Venezuela are planning to make payments in yuan
  • Christopher Gardner is the man who has proven impossible
Expert Chaslau Koniukh
  • Facebook
  • Twitter
  • Instagram
  • Biography

Chaslau Koniukh – an expert in marketing and project management, international investments, financial analyst.

Social media

Menu

  • Biography
  • Companies and corporations
  • Global investment
  • Investors and Entrepreneurs
  • Economy
  • Market terminology
  • Stock Market
  • World exchanges
  • Tech and Marketing
  • Analytics