A European multinational corporation plans to purchase Raven Industries, a Sioux Falls-based company that specializes in agricultural, aerospace and environmental technology. CNH Industrial paid $2.1 billion dollars to add Raven to its lineup of agricultural brands that includes New Holland and Steyr.
Dan Rykhus, CEO of Raven Industries, discussed the past and future of the company during a meeting of the Downtown Sioux Falls Rotary Club. He said CNH leaders told him to expect exciting changes.
“He said we look at Sioux Falls as the west coast of the Midwest and we intend to double or triple our technology staff here and this will become the entire hub for technology for their precision ag efforts,” Rykhus said.
Raven Industries is known for its driverless, remote-operated agricultural equipment. The company also focuses on stratospheric technology and high-tech liners and barriers for environmental projects.
CNH will probably sell those two other branches, Rykhus said. He said he will do everything he can to convince CNH to keep those workers in Sioux Falls.