Deere & Company Acquires Austrian Battery Maker

The parent company of a Dubuque manufacturer has completed its acquisition of an Austrian firm that produces electric batteries. Deere & Co.’s acquisition of majority ownership in Kreisel Electric Inc. was completed recently following regulatory approval. Kreisel Electric produces high-density, high-durability electric battery modules and packs for high-performance and off-highway applications. The firm also created a high-powered charging infrastructure platform. Kreisel was founded in 2014 and has about 180 full-time employees. The business will retain its brand name and trademark.