Deere to Spend $58 Million
To Upgrade Seeding Operations
Source: Quad-City Times
According to a report today in the Quad-City Times, Deere & Co. will invest approximately $58 million to enhance operations at its John Deere Seeding operation in Moline, the company announced this morning.
Deere said the investment will be made in conjunction with a new factory master plan that targets enhancements in efficiency and quality. Improvements will 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,” John May, Deere’s president of Agricultural Solutions, said in a news release. “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 first began manufacturing planting equipment in 1877 and has maintained operations at the current John Deere Seeding location since 1879.
Deere said it does not anticipate any significant change to Moline Seeding’s employment level as a result of the new investment. The factory currently has about 800 employees.
“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.”
The announcement comes on the heels of Deere’s record fourth-quarter and year-end earnings announced Wednesday.
Story Link: http://qctimes.com/news/local/deere-to-invest-m-in-john-deere-seeding/article_c4ca42d0-37dd-11e2-bf6b-001a4bcf887a.html