RDO Equipment Co. said John Deere Construction Co. renewed contracts with RDO’s construction unit, and also said both companies dismissed all claims pending in arbitration.
In July, RDO filed suit in a Minnesota state court alleging that John Deere Construction, a unit of heavy equipment maker Deere & Co., violated a Minnesota law by planning to terminate its dealership agreements. The suit claimed John Deere’s actions were based on Deere’s strategic objective to own or control a significant percentage of its distribution channel.
Fargo, ND-based RDO also said Deere revoked its termination notices to the company on Friday.
RDO, which sells, distributes, services and finances construction, agricultural and transportation equipment, also filed suit in a U.S. District Court in October against Credit Suisse First Boston Corp. (CSFB). The suit alleged that CSFB conspired with John Deere Construction and committed unfair trade practices, among other things.
RDO also dismissed all claims in federal court against CSFB, the company said.
