Case New Holland Industrial (CNHI), parent company of the New Holland, Case IH and Steyr brands, has announced a buyout of Raven Industries in the US.
The deal is valued at $2.1 billion and the new subsidiary is projected to have annual profits of €400 million by 2025.
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As well as agricultural technology – a key driver of the CNHI acquisition – Raven also operates in the polymer film sector, supplying waterproof membranes and liners for construction and agriculture. It also manufactures lighter-than-air platforms such as the meteosonde. The latter may give a hint to CNHI’s plans, given the growing importance of aerial photography, which is coming to the fore in the crop-growing sector.
In the agricultural sector, Raven is well known, particularly in North America and Europe, for producing field computers, steering, navigation and altitude control products. It also manufactures flow control valves to direct the injection of chemicals into the sprayer lines as an alternative to the more traditional method based on pre-prepared tank mixes.
Raven is also well established in the autonomous guidance sector with its OMNiDRIVE and OMNiPOWER products.
The former replaces the driver in a conventional tractor, making it suitable, according to Raven, for tasks such as calling the chaser hoppers to unload combines before returning the load to a predetermined parking area.
OMNiPOWER takes the form of a robot without an operator. The company describes it as “a self-propelled power platform that can accept a variety of attachments such as sprayers or spreaders, enabling it to perform multiple tasks over the course of agricultural seasons.”
Meanwhile, regulatory approval will be required to complete the deal, with completion expected by the end of the year.