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Associated Press
Deere Opens Russian Ag Equipment Plant
Friday February 4, 1:12 pm ET
Deere & Co. Opens Agriculture Equipment Assembly Plant in Russia


MOLINE, Ill. (AP) -- Farm implement maker Deere & Co. has opened an assembly facility in Russia to provide seeding carts and air seeding tools to customers in the region, the company announced Friday.

Deere said the plant in Orenburg, in the southern Ural Mountains about 800 miles southeast of Moscow, allows it to lower its logistics costs and makes it easier to do business in the region. The company signaled its intent to become a significant player in the agricultural equipment market in Russia.

"The decision to open this facility is consistent with our strategy to build a manufacturing presence in Russia while at the same time reaching a broader customer base," said David Everitt, president of Deere's agricultural division for Europe, Africa and South America. "We aspire to grow our business in the region and provide sustainable results."

Sid Bardwell, general manager of Russia operations for the Moline-based company, said the new facility also demonstrates the company's commitment to provide Russian farms with the latest available seeding technology to enhance farm productivity.

Deere shares fell $1.06 to $69.24 in afternoon trading on the New York Stock Exchange -- down 7 percent this year after rising 14 percent in 2004.
 
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