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The hidden hand

John Deere's castings come from Japan

America's largest iron foundry, the primary external supplier to Deere's agricultural equipment for 40 years, is owned by a Japanese private equity consortium.

The number

40year strategic partnership

Waupaca Foundry is the critical independent casting facility for US food production infrastructure—yet it's controlled by Bain Capital with minority stakes held by Nippon Steel and JFE Steel. The ownership structure has drawn no public policy attention despite its strategic importance to American agriculture.

Source: Iron Castings for Off-Highway & Industrial Equipment · Waupaca Foundry · Jan 1, 2024

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