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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Piaggio & C SpA | BIT:PIA | Italy | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.01 | 0.46% | 2.18 | 2.158 | 2.20 | 2.186 | 2.164 | 2.17 | 700,917 | 02:01:16 |
(Updates with details about the manufacturer of the oil filter in third paragraph.)
By Debbie Cai
Deere & Co. (DE) has recalled about 4,700 Gator utility vehicles because the oil filters might leak, posing a fire hazard.
The recall involves the Gator RSX850i Base, Sport and Trail models manufactured in the U.S. between May and October last year. They were sold at Deere dealers in the U.S. from August through January for at prices ranging from $12,900 to $15,500.
Moline, Ill.-based Deere, the world largest seller of farm machinery, said pinholes or cracks were found in the oil filters on the Gators' engines. Deere said the filters and the engines were manufacturered by Piaggio & C. SpA (PIA.MI) of Italy. Piaggio didn't immediately respond to a request for comment.
Deere said it received four reports of Gator fires. No injury was reported, it said.
Deere advised customers to stop using the recalled vehicles and contact a Deere dealer for a free inspection and free repair. The company is also contacting registered owners of the recalled vehicles.
Deere on Wednesday said its fiscal first-quarter earnings improved 22%, as its agriculture and turf-equipment segment made up for weakness in its construction-and-forestry-equipment business. Last summer's U.S. drought is fueling higher demand for farm machinery, defying conventional notions that the worst dry spell in a generation would damp farmers' enthusiasm for buying new equipment.
Deere's stock Thursday closed down 0.1% at $90.57 a share.
-Bob Tita contributed to this article
Write to Debbie Cai at debbie.cai@dowjones.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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