Deere & Company (doing business as John Deere) (), is an American corporation that manufactures agricultural machinery, heavy equipment, forestry machinery, diesel engines, drivetrains (axles, transmissions, gearboxes) used in heavy equipment and lawn care equipment. It also provides financial services and other related activities. Deere & Company is listed on the New York Stock Exchange under the symbol DE. The company's slogan is "Nothing Runs Like a Deere", and its logo is a leaping deer with the words "John Deere". It has used logos incorporating a leaping deer for over 155 years. It is headquartered in Moline, Illinois. It ranked No. 84 in the 2022 Fortune 500 list of the largest United States corporations. Its tractor series include D series, E series, Specialty Tractors, Super Heavy Duty Tractors, and JDLink.
History
19th century In 1836 Deere & Company began when John Deere, born in Rutland, Vermont, United States, on February 7, 1804, moved to Grand Detour, Illinois to escape bankruptcy in Vermont. Already an established blacksmith, Deere opened a 1,378-square-foot (128 m2) shop in Grand Detour in 1837, which allowed him to serve as a general repairman in the village, and a manufacturer of tools such as pitchforks and shovels. An item that set him apart was the self-scouring steel plow, which was pioneered in 1837 when John Deere fashioned a Scottish steel saw blade into a plow. Prior to Deere's steel plow, most farmers used iron or wooden plows to which the rich Midwestern soil stuck, so they had to be cleaned frequently. Deere created a highly polished steel surface that allowed the soil to slide easily. This tool addressed the difficulty of tilling the Prairie State's soil and greatly aided migration into the American Great Plains in the 19th and early 20th centuries.
In early 1843, Deere entered a business partnership with Leonard Andrus and purchased land for the construction of a new, two-story factory along the Rock River in Illinois. It used water power to operate machineries. This factory, named the "L. Andrus Plough Manufacturer", produced about 100 plows in 1842, and around 400 plows during the next year. Deere's partnership with Andrus ended in 1848, and Deere relocated to Moline, Illinois, to have access to the railroad and the Mississippi River. There, Deere formed a partnership with Robert Tate and built a 1,440-square-foot (134 m2) factory the same year. John Gould was later brought in to manage the accounts. Production rose quickly, and by 1849, the Deere, Tate & Gould Company was producing over 200 plows a month. A two-story addition to the plant was built, allowing further production.
Deere bought out Tate and Gould's interests in the company in 1853, and was joined in the business by his son Charles Deere. At that time, the company was manufacturing a variety of farm equipment products in addition to plows, including wagons, corn planters, and cultivators. In 1857, the company's production totals reached almost 1,120 implements per month. In 1858, a nationwide financial recession took a toll on the company. During this period, the company announced its work on a steam engine that will pull its plow but the product did not materialize. To prevent bankruptcy, the company was reorganized and Deere turned over his interests in the business to his son-in-law, Christopher Webber, and his son, Charles Deere, who would take on most of his father's managerial roles. John Deere served as president of the company until his retirement in April 1886, but died one month later in May 1886 in Moline, Illinois. The company was reorganized again in 1868 when it was incorporated as Deere & Company. While the company's original stockholders were Charles Deere, Stephen Velie, George Vinton, and John Deere, Charles effectively ran the company. In 1869, Charles began to introduce marketing centers and independent retail dealers to advance the company's sales nationwide. This same year, Deere & Company won "Best and Greatest Display of Plows in Variety" at the 17th Annual Illinois State Fair, for which it won $10 and a silver medal. The core focus remained on the agricultural implements, but John Deere also made a few bicycles in the 1890s.
20th century
Increased competition during the early 1900s from the new International Harvester Company led the company to expand its offerings in the implement business, but the production of gasoline tractors came to define Deere & Company's operations during the 20th century.
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