cwave, it will be the exact same machine your deere dealer wil be selling.......
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The Home Depot, Deere & Company announce agreement
to sell new series of John Deere lawn tractors
MOLINE, Ill./ATLANTA (June 17, 2002) - Deere & Company and The Home Depot, the world's largest home improvement retailer, today announced an agreement to sell an exciting new line of John Deere-branded lawn and garden tractors in the retailer’s more than 1,400 home improvement stores beginning early next Spring.
"The Home Depot has a proud history of providing our customers not only with the best service and prices, but with the best quality brands,” said Bob Nardelli, chairman, president and CEO, The Home Depot. “John Deere’s reputation for quality, product support and brand awareness is unsurpassed. We’re delighted to be their first ever mass retail partner for John Deere-branded lawn tractors.”
The agreement places John Deere-branded riding mowing equipment for sale in the mass channel for the first time in John Deere's history. Models of the new John Deere 100-series lawn tractors will be sold at The Home Depot and at John Deere dealers. The dealers will continue to sell John Deere's broad range of lawn and garden equipment. Additionally, John Deere dealers will provide support and service for lawn tractors sold both at the dealers and at The Home Depot.
"We believe this agreement is unique by offering a new line of quality John Deere lawn tractors in the mass channel with the renown service and support capability of John Deere dealers," said Robert W. Lane, chairman and CEO, Deere & Company. "We look forward to this powerful combination of The Home Depot and John Deere dealers."
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Deere, Home Depot Page 2
Terms of the agreement were not disclosed but the companies said the new 100-series by John Deere replaces ScottsÒ tractors, which have been built for Home Depot by John Deere since 1998. The new 100-series lawn tractors will be offered in cutting widths from 42 inches to 54 inches with various horsepower ratings.
John Jenkins, president of Deere’s Commercial & Consumer Equipment Division, said, "By marketing the new 100-series John Deere lawn tractor simultaneously through Home Depot and our dedicated John Deere dealers, we will reach a wider range of consumers for both John Deere lawn equipment and the service and support capabilities of John Deere dealers. Based on this, we expect a significant increase in the number of lawn tractors sold both at The Home Depot and at John Deere dealers."
As part of the agreement, Deere said it would discontinue manufacturing the ScottsÒ brand and also eliminate the SabreÒ brand of lawn tractors sold through John Deere dealers. Deere said the new 100-series will be available at Home Depot stores and John Deere dealers for the 2003 selling season and will be manufactured at an existing facility in Greeneville, Tennessee.
"This is an exciting new opportunity for John Deere dealers, The Home Depot and for John Deere. This combination provides customers in the mass and dealer channels with the finest product and the best service and support available to customers anywhere," said Jenkins.
ABOUT JOHN DEERE
As the world's leading producer of equipment for agriculture and forestry, Deere & Company (NYSE: DE) creates smart and innovative solutions, in the form of advanced machines, services and concepts, for customers on the farmsite, worksite and homesite worldwide.
ABOUT THE HOME DEPOT
Founded in 1978, The Home Depot operates more than 1,404 stores in the U.S., Canada, Mexico and the Caribbean and is the fastest growing retailer in history. Fortune magazine named The Home Depot the number one Specialty Retailer for eight consecutive years, ranked number eighteen in the Fortune 500 and sixth Most Admired Company in America. The company’s stock is publicly traded (NYSE:HD) and is included in the Dow Jones Industrial Average and the Standard & Poor’s 500 Index.