DGAP-News: Wacker Neuson SE: The Wacker Neuson Group strengthens its operations in America with long-term cooperation with John Deere in the segment of mini excavators and compact excavators

DGAP News: Wacker Neuson SE

/ Keywords: Collaboration

Wacker Neuson SE: The Wacker Neuson Group strengthens its operations in America with long-term cooperation with John Deere in the mini excavator and compact excavator segment

06/14/2022 / 16:43

The issuer / publisher is responsible for the content of the application.


Wacker Neuson Group Strengthens American Business With Long-Term Partnership With John Deere In The Mini Excavator And Compact Excavator Segment

Munich, June 14, 2022 – Wacker Neuson Group and John Deere Construction & Forestry Company, a subsidiary of the John Deere Group, one of the world’s leading manufacturers of agricultural, forestry and construction machinery, enter into a strategic partnership with the Mini – and Compact Excavators segment .

The agreement reached includes a long-term, exclusive OEM supply contract for mini- and compact excavators weighing less than five tonnes, as well as battery-powered excavators. The excavators are developed and manufactured at the Wacker Neuson production facilities in Menomonee Falls (USA) and Linz (Austria) to John Deere requirements, mainly for the North American market and are sold under the John Deere brand through John Deere’s worldwide dealer network. There are plans to gradually expand the product portfolio. Wacker Neuson models in the same product category will continue to be offered under the Wacker Neuson brand through the company’s own sales network.

The management of the Wacker Neuson Group assumes that this cooperation will significantly accelerate the path of profitable growth of the Group in the medium term. However, no significant impact on sales and profits is expected over the next three to four years. For the appropriate expansion of production capacity, the group plans to invest in the low two-digit range of millions of euros.

The collaboration also includes a technical collaboration between John Deere and Wacker Neuson for excavators in the five to nine ton weight classes. John Deere takes the design and technology know-how from Wacker Neuson and develops it according to its own production requirements and its drive for innovation. These models are manufactured and sold by John Deere itself. Regardless of this, Wacker Neuson will continue to develop and produce its own excavators in the 5-9 ton weight class and sell them under its own brand.

“We are delighted to add another element to our growth strategy with OEM partnerships with John Deere for mini excavators and compact excavators. We have a long and successful relationship with John Deere in both agriculture and the construction industry. The combination of our excellent products and manufacturing expertise with John Deere’s established access to the North American market opens up excellent business opportunities for us in the attractive segment of the mini and compact excavator market, ”explains Dr. Karl Tragl, President and CEO of the Wacker Neuson Group.

“The agreement with John Deere perfectly complements our growth strategy in the Americas. We already offer our customers excellent products under the Wacker Neuson brand and will continue to focus heavily on expanding our product range to the North American market. In addition, the collaboration with John Deere opens up additional sales channels for our high-performance mini excavators and compact excavators, ”says Gert Reichetseder, President and CEO of Wacker Neuson North America.

Contact:
Wacker Neuson SE

Suzanne Rizzo
Investor Relations
ul. Pruska 41
80809 Munich, Germany
Phone + 49- (0) 89-35402-1261
susanne.rizzo@wackerneuson.com
www.wackerneusongroup.com

About the Wacker Neuson Group:

The Wacker Neuson Group is an international group of companies with approximately 6,000 employees worldwide. In fiscal 2021, sales were € 1.87 billion. As a leading manufacturer of light equipment and compact machines, the Group offers its customers around the world a wide range of products, a wide range of services and an efficient supply of spare parts. The offer is directed primarily to clients from the main construction, gardening and landscaping industries, agriculture, local governments and the recycling sector, as well as railway and industrial companies. The group of companies includes the product brands Wacker Neuson, Kramer and Weidemann. The Wacker Neuson SE shares are listed on the regulated market (Prime Standard) of the Frankfurt Stock Exchange (ISIN: DE000WACK012, WKN: WACK01) and are listed on the SDAX of the German Stock Exchange.


14.06.2022 Publication of Corporate News / Financial News broadcast by DGAP – EQS Group AG website.
The issuer / publisher is responsible for the content of the application.

DGAP’s distribution services include statutory reporting, corporate / financial news, and press releases.
Media archive at http://www.dgap.de


Tongue:

German

Business:

Wacker Neuson SE

Preussenstr. 41

80809 Munich

Germany

Telephone:

+49 – (0) 89 – 354 02 – 0

Fax:

+49 (0) 89 354 02 – 298

E-mail:

ir@wackerneuson.com

Internet:

www.wackerneusongroup.com

IS IN:

DE000WACK012

WKN:

WACK01

indices:

SDAX

Exchanges:

Regulated market in Frankfurt (Prime Standard); Open market in Berlin, Düsseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

EQS message ID:

1375577

end of message

DGAP information service


1375577 06/14/2022

Leave a Comment