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Top Manufacturer News for 2019


AEMlogo squareAs 2020 kicks off, the Association of Equipment Manufacturers (AEM) took a look back at some of the most notable manufacturer news headlines from the past 12 months.

Deere Appoints New CEO – In August, Deere & Co. announced John May would lead the tractor-making giant through a difficult agricultural environment, with outgoing Chief Executive Officer Samuel Allen to stay in his role as chairman. The Moline, Illinois-based company split up the CEO and chairman roles as it dealt with such challenges as the ongoing trade war with China and weather that disrupted planting.

Caterpillar Signs Agreement to Sell Purpose-Built Forestry Business – In August 2018, Caterpillar announced plans to sell its forestry business to Weiler Forestry. Eight months later, in April 2019, Caterpillar and Weiler entered into a definitive agreement to sell Cat’s purpose-built forestry business.

Vermeer Corp. Acquires Schuler Manufacturing – News of the acquisition broke in early December, with Vermeer Forage Solutions Executive Vice President Mark Core saying at the time of its announcement: “The addition of Schuler’s feeding equipment strengthens our long-term vision to continually introduce new product innovation for cattle producers across the entire hay and feeding value stream.”

Kubota Names New North American CEO for Texas HQ – 2019 opened with major news that Harry Yoshida would become the next president and CEO of Kubota Tractor Corp. and Kubota North America. Based in Osaka, Japan, he previously served as the managing executive officer, GM of farm and industrial machinery domain, strategy and operations and entered the year having spent 37 years with the company.

Caterpillar Announces Officer Changes – Caterpillar Inc. announced several officer moves early on in 2019, including changes in responsibilities for three executive office members, new roles for two current vice presidents and the appointment of two new vice presidents. All of the changes went into effect on March 1. "These organizational changes will facilitate the acceleration of our strategy for continued profitable growth," said Caterpillar Chairman and CEO Jim Umpleby at the time.

CNH Industrial Announces Senior Leadership Changes – As 2019 wound down, it was reported that several executives planned to leave CNH Industrial. Carl Gustaf Göransson stepped down as the company’s president of construction, while Alan Berger, its chief technology officer, chose to leave the company.

Morbark Sold to Alamo – In September, it was announced the acquisition would be expected to close in the fourth quarter of 2019, with Morbark becoming part of Alamo's Industrial Division. It was also reported that Dave Herr would continue as Morbark CEO.

Terex Announces Departure of President Steve Filipov – Following the completion of the sale of Demag cranes to Tadano on Aug. 1, it was announced that Filipov, Terex Cranes president, left the company. Filipov worked at Terex for nearly 25 years, in that time positively influencing virtually every part of the business, Terex said. He started with PPM Cranes in France, was twice president at Terex Cranes, led developing markets and strategic accounts, and was president at the Material Handling and Port Solutions (MHPS) port cranes segment. Commenting on his departure Steve Filipov said, “I am grateful to Terex for giving me the opportunity to continually do new and exciting things. I am looking forward to the road ahead – for myself, for my colleagues who will become part of the Tadano organization, and for everyone at Terex. I believe Terex is well positioned for a bright future.”

Kubota and Buhler Announce OEM Partnership – Buhler Industries entered into a pact with Kubota to develop and produce a new tractor platform in the mid-range front-wheel assist segment. The move represented another step by Kubota to move into the “big ag” arena.

Terex Sells Demag to Tadano – In February, it was announced that Terex agreed to sell its Demag mobile cranes business to Tadano for $215 million. The deal covered all terrain cranes and large crawler cranes and includes the factory in Zweibrücken, Germany, as well as eight subsidiaries of Terex, including sales and service locations. At the time of the announcement, Tadao said in a statement: “Through the acquisition of Demag, Tadano further seeks to meet customer needs with the addition of lattice-boom crawler cranes to our product lineup, as well as the enhancement of our line of all terrain cranes. We aim for a greatly expanded global presence as we strive toward our goal of becoming No. 1 worldwide in the lifting equipment industry.”