MOLINE, Ill., Nov. 26, 2012 /PRNewswire/ -- Deere & Company said today it will invest approximately $58 million to enhance operations at John Deere Seeding in Moline where the company manufactures planting equipment.
The investment will be made in conjunction with the implementation of a new factory master plan that targets enhancements in efficiency and quality. Improvements include a new paint system and increased use of automation and robotics.
"This investment reflects the past success of John Deere Seeding and prepares the factory to further serve customers in the future," said John May, President, Agricultural Solutions. "Deere continues to invest in facilities both in the U.S. and around the world to enhance our position as the world's largest manufacturer of agricultural equipment."
John Deere originally started manufacturing planting equipment in 1877 and has maintained operations at the current John Deere Seeding location in Moline since 1879. John Deere Seeding currently has approximately 800 employees in Moline and does not anticipate a significant change to total employment as a result of today's announcement."Our employees at John Deere Seeding have served customers well and responded to the needs of the marketplace," May said. "Our investments at John Deere Seeding are focused on helping agricultural equipment customers succeed in the important work of feeding the world." Deere & Company (NYSE: DE) is a world leader in providing advanced products and services and is committed to the success of customers whose work is linked to the land - those who cultivate, harvest, transform, enrich and build upon the land to meet the world's dramatically increasing need for food, fuel, shelter and infrastructure. Since 1837, John Deere has delivered innovative products of superior quality built on a tradition of integrity. For more information, visit John Deere at its worldwide website at www.JohnDeere.com. SOURCE Deere & Company
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV