Published:
Deere to Invest in Manufacturing Capacity, Parts Operations in South America
MOLINE, Ill., Aug. 28 /PRNewswire-FirstCall/ -- Deere & Company announced
today that it will invest approximately $80 million in its agricultural
manufacturing and parts distribution operations inBrazil to increase
manufacturing capacity for both tractors and combines as well as to improve
service to customers.
(Logo: http://www.newscom.com/cgi-bin/prnh/20030326/JOHNDEERELOGO)
The company said the investments were being made in its combine and
planter factory in Horizontina, its tractor factory inMontenegro, and for the
development of a new parts distribution center in Campinas.
"South America is an important market for John Deere," said Mark von
Pentz, President, Agricultural Division -Europe,Africa,South America and
Global Harvesting Equipment Sourcing. "These investments will assist Deere as
we continue to enhance our market position in this important region."
The investments will allow Deere to increase manufacturing capacity by
approximately 35 percent in its Horizontina andMontenegro factories. The
funds will improve manufacturing flexibility, optimize the use of assets and
improve aspects of the factory layout and assembly lines. Investments will
also assist suppliers to improve capacity and logistics.
The projects also include creation of a parts distribution center to
improve service to the company's growing dealership network acrossBrazil and
other portions ofSouth America.
All projects are expected to be substantially complete in 2009. They add
to Deere's recent series of announced actions to meet the continued worldwide
demand for agricultural equipment, including additional manufacturing capacity
inWaterloo, Iowa, for high horsepower tractors and inEast Moline, Illinois,
for combine harvesting equipment.
John Deere (Deere & Company; NYSE: DE) is the world's leading provider of
advanced products and services for agriculture and forestry and a major
provider of advanced products and services for construction, lawn and turf
care, landscaping and irrigation. John Deere also provides financial services
worldwide and manufactures and markets engines used in heavy equipment. Since
it was founded in 1837, the company has extended its heritage of integrity,
quality, commitment and innovation around the globe.
SOURCE Deere & Company
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