According to a report from The Zimbabwe Mail, as part of an agreement between John Deere and the country of Zimbabwe to ship 1,300 tractors, 80 combines and other ag equipment with a total value of $50 million, the manufacturer has shipped the first 30 tractors as of April 11.
The tractors were shipped from Germany to Zimbabwe via Durban, South Africa.
The deal between Deere and Zimbabwe will re-establish the manufacturer in the country after a 20 year absence.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.
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