Deere & Co. completes acquisition of Austrian battery manufacturer

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, Deere announced Tuesday morning.

Kreisel Electric produces “high-density, high-durability electric battery modules and packs for high-performance and off-highway applications,” according to a press release. 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.