GFM Network News


(JimPattison.com)

Deere lifts 2021 forecast on solid equipment demand

Reuters — Deere and Co. on Friday raised its full-year earnings forecast after quarterly profit topped Wall Street estimates on the back of strong demand for farm and construction equipment. The world’s largest farm equipment manufacturer now expects net income in fiscal 2021 to be between $5.7 billion and $5.9 billion, up from a range […] Read more

(CervusEquipment.com)

Brandt to buy Deere dealership chain Cervus

Regina firm to pay $302 million in all-cash deal

The world’s biggest privately-owned chain of Deere construction and forestry equipment dealerships is set to expand its reach into Deere farm equipment in a major way. Brandt Tractor, the equipment sales arm of the Regina-based Brandt Group, on Monday announced an agreement to buy all of publicly-traded Cervus Equipment Corp. for $19.50 a share, valuing […] Read more


(CervusEquipment.com)

Cervus expects chip shortages may continue into fall

Deere dealer chain books increased Q1 profit

The semiconductor chip shortage plaguing automotive and equipment manufacturers may last into the second and even third quarters of the year, farm equipment retailer Cervus Group says. Calgary-based Cervus — which operates 64 dealerships in Canada, Australia and New Zealand, including 38 devoted mainly to Deere farm equipment — expects increased demand to run up […] Read more

John Deere says its new line of heavy harrows features a quick folding and unfolding sequence to help farmers move more quickly between fields. (Deere.com)

Degelman to make heavy harrows for Deere

Regina company reaches OEM agreement for new line

Major U.S. farm equipment manufacturer John Deere Co. has launched a new line of heavy harrows — and is going to Saskatchewan to get them. Regina equipment maker Degelman Industries announced Tuesday it has reached an OEM (original equipment manufacturer) agreement to provide Deere with a line of three heavy harrow models, the HH50, HH70 […] Read more


(CervusEquipment.com)

Cervus to expand Saskatchewan reach

Deere chain announces Nipawin shop, Farm At Hand tie-in

Deere farm equipment dealer chain Cervus Equipment is set to expand its reach in northeastern Saskatchewan next month. Calgary-based Cervus — which operates 21 Deere dealerships in Alberta, Saskatchewan and British Columbia along with 42 other machinery dealerships in Canada, Australia and New Zealand — announced Thursday it plans to have a new dealership open […] Read more




(JimPattison.com)

Pattison to shut one Saskatchewan Deere dealership

Pattison Agriculture’s chain of Deere ag equipment dealerships in Saskatchewan and Manitoba is preparing to cut one link. The Prairie farm equipment sales and service arm of B.C.’s Jim Pattison Group announced Tuesday on its website and social media it will permanently close its dealership at Foam Lake, Sask. effective Dec. 31. The Pattison store […] Read more


A photo from John Deere’s Sept. 17, 2019 rollout of its 6M tractor series for 2020. (Deere.ca)

Deere to lay off 163 U.S. workers as trade war dents demand

Chicago | Reuters — Deere and Co. on Tuesday announced indefinite layoffs for 163 U.S. manufacturing workers at plants in Illinois and Iowa that make agricultural, forestry and construction equipment, citing decreased customer demand. The layoffs come week after the company said it would reduce production by 20 per cent at its facilities in Illinois […] Read more

(SKHoward/iStock/Getty Images)

Climate change has U.S. fund managers adjusting agriculture investments

New York | Reuters — After historic floods devastated Midwestern agricultural states this spring, some fund managers are evaluating how climate change will affect the long-term value of companies that make or sell products ranging from tractors to fertilizer. The issue is not simply the unpredictability of weather. Instead, fund managers say, they are struggling […] Read more