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 29 at 10:30 a.m.
Filed under:
Agriculture/Farming,
Litigation
From Bloomberg News | Peoria-based manufacturing giant Caterpillar Inc. paid more than $9 million to settle a paralyzed worker’s lawsuit over a tractor accident that generated one of last year’s largest produc-liability verdicts, according to people familiar with the accord.
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 »
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 »
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. 20, 2010 at 2:05 p.m.
Filed under:
Defense,
Government,
Manufacturing
By Mary Jane Grandinetti
Heavy equipment maker Caterpillar Inc. said Monday that received a contract worth up to $641 million to build earth-moving tractor scrapers for the Defense Department.
It’s the largest single award from the department that the Peoria-based company has received, the company said in a statement. 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 »
