Deere Forms Venture
With Japanese FirmMOLINE, Ill. - Deere & Co. and Hitachi Construction Machinery Co. of Japan announced Monday they have formed a 50-50 joint venture to build hydraulic excavators in the United States for distribution in North, Central and South America.
The newly created Deere-Hitachi Construction Machinery Corp. has acquired a purchase option for a manufacturing site in Kernersville, N.C., currently owned by ITT Fluid Products Corp. A final agreement for the acquisition of that property should be reached within 60 days, the joint venture company said.
The new factory will manufacture excavator booms, arms and other components and will mount them on base units supplied by Deere's factory in Davenport, Iowa, and by Hitachi's factory in Japan.
Italian Cake Company
CAMDEN, N.J. - Campbell Soup Co. said it has acquired an Italian company, Industria Dolciaria Badia S.p.A., that makes traditional Italian cakes usually sold at Easter and Christmastime.
Borsari will become a unit of D. Lazzaroni & C. S.p.A., another Campbell Italian subsidiary that produces premium cookies and cakes.
Mich. Exporter of Year
SOUTHFIELD, Mich. - Robert J. DeVoursney, vice president of Geerpres Inc., of Muskegon, Mich., was named Monday as Michigan Exporter of the Year.
The award is annually presented by the Michigan District Export Council, the Michigan Department of Agriculture World Trade Services Division, the U.S. Department of Commerce International Trade Division and Michigan Business Magazine.
Geerpres manufactures industrial mops, buckets, wringers and other janitorial supplies. Since Mr. DeVoursney's arrival at the company in 1982, Geerpres' exports have risen from a negligible amount to $10 million.
Hong Kong's Imports
Of Brandy Jump 47 percent
WASHINGTON - Hong Kong's brandy imports jumped 47 percent last year, and lower import duties, which became effective in March, are expected to add further momentum, according to a U.S. Department of Agriculture trade report.
The USDA's Foreign Agricultural Service said the rise in Hong Kong's brandy imports could lead to further sales opportunities for U.S. suppliers.
France is the main supplier, providing 95 percent of last year's imports of 8.43 million liters, the agency said in Foreign Agriculture magazine. China was second, with 206,220 liters, followed by South Africa, 53,591; Greece 52,957; and the United States, 26,504.
Deere Forms Venture