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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
_________
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report: July 28, 1999
(Date of earliest event reported)
D E E R E & C O M P A N Y
(Exact name of registrant as specified in charter)
DELAWARE
(State or other jurisdiction of incorporation)
1-4121
(Commission File Number)
36-2382580
(IRS Employer Identification No.)
One John Deere Place
Moline, Illinois 61265
(Address of principal executive offices and zip code)
(309)765-8000
(Registrant's telephone number, including area code)
_______________________________________
(Former name or former address, if changed since last report.)
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Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits.
(c) Exhibits
(99) Press release and additional information.
Page 2
Signature
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on
its behalf by the undersigned hereto duly authorized.
DEERE & COMPANY
By: /s/ Michael A. Harring
----------------------------
Michael A. Harring,
Secretary
Dated: July 28, 1999
Page 3
Exhibit Index
Sequential
Number and Description of Exhibit Page Number
(99) Press release and additional information Pg. 5
Page 4
EXHIBIT 99
CONTACTS: Mary Weller Curtis Linke
Sentry Insurance Deere & Company
715-346-6779 309-765-4634
FOR IMMEDIATE RELEASE - 28 July 1999
SENTRY INSURANCE A MUTUAL COMPANY
PURCHASES JOHN DEERE INSURANCE GROUP
STEVENS POINT, WI (28 July 1999) - Sentry Insurance a
Mutual Company announced today the purchase of the John Deere
Insurance Group (JDIG), the property and casualty insurance
operations of Deere & Company, pending regulatory approvals.
Terms of the transaction were not disclosed.
Sentry Insurance a Mutual Company is a property and
casualty insurer and the lead insurer of the Sentry Insurance
Group. Founded in 1904, Sentry has more than $5.8 billion in
assets and surplus of more than $1.6 billion. Through its
member companies, Sentry offers a full line of personal and
business property, casualty, life, health, annuity, and
pension products; generating annual premiums of $1.1 billion.
JDIG, formed in 1969, wrote direct premiums of nearly $315
million in 1998 focusing on Dealer Operations, Transportation,
and Specialty programs.
In making the joint announcement, Dale Schuh, Chairman of
Sentry, said, "We are pleased to welcome the John Deere
Insurance Group and its employees to the Sentry family. Our
intent is to expand upon the customer base JDIG has already
developed, while adding value by offering additional products
and services."
Sentry expects that the major offices of JDIG will
continue to be operated in their existing locations, he added.
Michael Orr, President of Financial Services, Deere &
Company, said, "JDIG has had a solid financial record since
its inception in 1969, but in order for the operations to
remain competitive, it was necessary that they be combined
with a larger, more diverse operation. Sentry was chosen
because of its commitment to enhancing the level of service
and broadening the range of financial products available to
customers, as well as providing employment opportunities to
the greatest number of JDIG employees."
Deere & Company indicated that it will endorse Sentry's
product offering to John Deere dealers, and the two companies
will work together to create customized risk management plans
for John Deere dealers and their customers.
Companies within the Sentry Insurance Group include:
Sentry Insurance a Mutual Company; Sentry Life Insurance
Company; Sentry Life Insurance Company of New York; Sentry
Equity Services, Inc.; Dairyland Insurance Company; Dairyland
County Mutual of Texas; Patriot General Insurance Company; and
Middlesex Insurance Company.
Deere & Company, headquartered in Moline, Illinois,
manufactures, distributes, and finances a full line of
agricultural equipment; a broad range of equipment for
construction, forestry and public works; and a variety of
commercial and consumer equipment. The Company also provides
credit and managed health care products for businesses and the
general public.
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