By Reuters
Deere CEO Samuel Allen. (AP/Deere)
Federal Reserve officials are correct to worry more about stimulating the U.S. economy than about inflationary price pressures bubbling in the fuel and food sectors, the chairman and chief executive of Deere & Co. said Tuesday.
In an interview, Samuel R. Allen said he worries about the strength of the U.S. recovery even though the farm equipment giant he leads is reaping the benefits of a global farming boom he expects to continue for years. Get the full story »
March 18 at 5:38 p.m.
Filed under:
International,
Manufacturing
By Dow Jones Newswires
Deere & Co. said Friday it expects delivery delays for some construction excavators built under a joint venture with Japanese equipment manufacturer Hitachi. Get the full story »
March 16 at 5:11 p.m.
Filed under:
Agriculture/Farming,
Investigations
From BusinessWeek | Moline-based Deere & Co., the world’s largest maker of agricultural equipment, was accused in an amended lawsuit of systematically discriminating against women seeking entry-level positions.
By Associated Press
A John Deere combine being worked on in Hampshire, Ill. Moline-based Deere hopes to expand its product line in Russia. (Photo by Scott Olson/Getty Images)
Moline, Ill.-based Deere & Co. will double the manufacturing space at a factory near Moscow and start its own leasing company in Russia, the world’s largest maker of agricultural equipment said Thursday.
The announcement was made as Deere Chairman and CEO Samuel Allen joined other CEOs and Vice President Joe Biden at an investment conference in Russia.
The investment at the Domodedovo factory will help the company expand its product line in Russia, adding new equipment such as log forwarders, which load and haul logs and are widely used in the Russian forestry industry, Deere said in a statement. Get the full story »
March 3 at 6:50 a.m.
Filed under:
Health care
By Associated Press
A new federal report shows employers in Illinois received nearly $41 million last year to help them maintain health care coverage for early retirees. The federal funding comes from a program created by the Affordable Care Act, the national health care law. In Illinois, 337 employers have been accepted into the early retiree program. Get the full story »
By Katherine Skiba | Federal officials on Wednesday announced a $4.5 million pilot program to help small and medium manufacturers in Illinois and three other Great Lake states use supercomputing technology to speed product design.
The public-private partnership will assist firms in Illinois, Indiana, Michigan and Ohio, officials said. Get the full story »
Feb. 16 at 6:17 a.m.
Filed under:
Earnings,
Manufacturing
By Reuters
Farm equipment maker Deere & Co. reported a doubling of quarterly profit Wednesday amid strong North American sales of large, high-margin machines and price increases, and lifted its full-year profit forecast.
The world’s largest maker of tractors and combines earned $513 million, or $1.20 per share, in the first quarter ended Jan. 31, up from $243.2 million, or 57 cents per share a year earlier. Get the full story »
Jan. 19 at 7:26 a.m.
Filed under:
International,
Manufacturing
By Reuters
U.S. farm equipment maker Deere & Co will spend $100 million to expand its capacity to produce tractors for the Indian market and for export, building a new factory and expanding an existing one. Get the full story »
Jan. 14 at 3:15 p.m.
Filed under:
Chicago executives
By Dow Jones Newswires
Deere & Co. said Friday that Chairman and Chief Executive Samuel Allen’s compensation for the company’s 2010 fiscal year almost tripled from the previous year.
Allen’s base salary, incentive pay, executive perks and awards of stock and options totaled $12.29 million for the year ended Oct. 31, up from $4.27 million a year earlier, according to a regulatory filing with the Securities and Exchange Commission. Get the full story »
By Associated Press
Deere & Co., the world’s largest maker of agricultural equipment, will invest $50 million in a new manufacturing plant in China to make construction equipment. Get the full story »
Nov. 24, 2010 at 4:53 p.m.
Filed under:
Agriculture/Farming,
Earnings
By Reuters
Deere & Co. reported a stronger-than-expected quarterly profit on Wednesday as sales of its tractors and harvesters in North America and other markets offset continued poor demand in Europe.
The world’s largest maker of farm equipment offered a cautious preliminary forecast for 2011 that fell short of Wall Street’s forecasts, however, sending its shares lower in premarket trading. It warned that the coming year would be complicated, with a record number of new model introductions as a result of new, more stringent emissions standards in many markets. Get the full story »
Sep. 27, 2010 at 11:52 a.m.
Filed under:
Energy
Exelon Corp., the largest U.S. producer of nuclear power, plans to sell $900 million of 10- and 31-year debt to fund its purchase of a Deere & Co. wind-power unit.
The bonds may be issued as soon as today through Exelon Generation Co. according to a person familiar with the transaction. John Deere Renewables will cost $860 million with an additional $40 million if Deere starts constructing three projects in Michigan, Exelon said today in a regulatory filing that didn’t specify the debt offering’s size or timing. Get the full story »
Aug. 31, 2010 at 8:30 a.m.
Filed under:
Energy,
M&A
By Associated Press
Deere & Co. will sell its wind energy business to a subsidiary of Exelon Corp. for $900 million, the company said Tuesday, potentially signaling an active merger and acquisition period ahead for the power industry. Get the full story »
By Dow Jones Newswires
Deere & Co. has quietly dropped out of a coalition of large companies that has supported a cap-and-trade program for reducing carbon dioxide emissions.
Deere, the world’s largest manufacturer of farm machinery, opted to leave the U.S. Climate Action Partnership in May because the group’s legislative strategy “no longer served as a foundation for moving forward” with climate change regulation, Ken Golden, a spokesman for the company said Tuesday. Get the full story »
Aug. 18, 2010 at 1:45 a.m.
Filed under:
Agriculture/Farming,
Earnings
By Reuters
Deere & Co reported stronger-than-expected quarterly results but warned of growing weakness in Western Europe and offered a disappointing forecast that sent its shares lower on Wall Street.
The company, the world’s largest maker of agricultural equipment, cut its outlook for Europe, saying an abundance of used equipment in the region and lingering concerns about its economic prospects were hurting sales. Get the full story »
