Saskferco signs deal
Saskferco Products has entered into a licensing and supply agreement with Agrotain International to be the exclusive Canadian manufacturer of urea and UAN products containing Agrotain C nitrogen stabilizer for farm markets. Agrotain stops nitrogen volatilization losses.
Philom Bios Inc. will continue to supply the group’s distributor and dealer network.
Deere profits
Deere and Company has posted record first quarter profits.
The company, which makes John Deere farm products and other equipment, said worldwide net income was $222.8 million US, or 89 cents per share, for the first quarter ended Jan. 31, compared to $170.8 million, or 68 cents per share, last year.
Net sales and revenues grew 18 percent to $4.13 billion compared with $3.48 billion a year ago.
The equipment operation’s net sales were $3.526 billion for the quarter, up from $2.912 billion last year.
Equipment sales in the United States and Canada rose 20 percent for the quarter.
The equipment division’s operating profit rose to $262 million from $198 million last year, largely because of increased shipments, higher sales prices and improved efficiency related to increased production volume.
