Bombardier, Deere Announce Strategic Alliance for
Product Development
VALCOURT, QUEBEC, CANADA AND MOLINE, ILLINOIS, U.S.--
JANUARY 23, 2003 - 10:00 EST
Bombardier
and Deere & Company will develop new wheeled utility vehicles and
technologies under a strategic alliance announced today.
The alliance will combine the efforts of Deere's Worldwide
Commercial & Consumer Equipment Division and Bombardier
Recreational Products to produce creative new concepts aimed at
expanding the business opportunities for both companies. The
result should provide more and even better products for their
respective customers and authorized dealers.
"John Deere has an excellent history of engineering products that
add to the productivity of our customers," said John Jenkins,
President of Worldwide Commercial & Consumer Equipment at Deere.
"Pooling our resources with a market leader such as Bombardier
strengthens our total investment in research and development."
The first product resulting from this alliance will be a line of
new John Deere branded utility vehicles derived from a Bombardier
All-Terrain Vehicle (ATV) platform, to be launched initially in
Canada and the United States by the end of 2003. The products
will be manufactured by Bombardier at their Valcourt, Quebec
facility.
"Bombardier is very proud of this agreement because it is the
recognition, by a highly reputed global leader such as Deere and
Company, of the quality of our products and of our leadership
position as an innovator," said Jose Boisjoli, President of the
Snowmobiles, Watercraft and ATV Division of Bombardier
Recreational Products.
Bombardier has been designing and manufacturing utility and
motorized recreational vehicles for over sixty years. While
Bombardier's Snowmobiles, Watercraft and ATV Division offers
various products for the recreational user, Deere focuses on
products that make customers' work easier and more fulfilling.
"We believe this alliance is a good fit," said Boisjoli. "In this
effort, we will work together to develop new solutions for an
ever-changing marketplace." "This is an exciting opportunity for
John Deere and Bombardier to jointly leverage our combined
technological expertise," said John Deere's Jenkins. "The two
companies are similar in size and culture and both have a history
of high quality products supported by outstanding service and
support."
Both companies have targeted the announcement of new products
resulting from this alliance before the end of 2003.
About John Deere
Deere & Company (NYSE:DE) is the world's leading producer of
equipment for agriculture and forestry, a major manufacturer of
equipment used in construction and lawn, grounds and turf care,
and engines used in heavy equipment. Additionally, through
company subsidiaries, Deere provides financial services and other
related activities that support the core businesses. The John
Deere Worldwide Commercial & Consumer Equipment Division
manufactures and distributes a full line of lawn care equipment
for residential, commercial, and golf and turf applications. The
extensive lineup includes lawn and garden tractors, walk-behind
lawn mowers, hand-held equipment, GATOR* Utility Vehicles,
compact utility tractors, and commercial mowing equipment.
About Bombardier
Bombardier Recreational Products designs, develops, builds,
distributes and markets utility vehicles, Rotax(R) engines,
Ski-Doo(R) and Lynx(R) snowmobiles, Bombardier(TM) ATVs,
Sea-Doo(R) watercraft and sport boats as well as Evinrude(R) and
Johnson(R) outboard marine engines and Ficht(R) direct fuel
injection technology.
Bombardier Inc., a diversified manufacturing and services
company, is a world leading manufacturer of business jets,
regional aircraft, rail transportation equipment and motorized
recreational products. It also provides financial services and
asset management in business areas aligned with its core
expertise. Headquartered in Montreal, Canada, the Corporation has
a workforce of some 80,000 people in 24 countries throughout the
Americas, Europe and Asia-Pacific. Its revenues for the fiscal
year ended Jan. 31, 2002 stood at $21.6 billion Cdn. Bombardier
trades on the Toronto, Brussels and Frankfurt stock exchanges
(BBD, BOM and BBDd.F).
* Trademark of Deere & Company
(R),(TM) Trademarks of Bombardier Inc. or its subsidiaries. |
