Deere & Company to Build Loader, Excavator Factory in China
Deere & Company will build the factory in the Tianjin Economic-Technological Development Area
Deere & Company announced plans to invest $50 million to build a construction equipment factory in China for the Chinese market as well as export. The new factory will build four-wheel-drive loaders and excavators. Located in the Tianjin Economic-Technological Development Area (TEDA), the factory will be the company’s sixth manufacturing location in China.
"This new factory will enhance our opportunity to serve Chinese customers as well as customers in other markets," said Samuel R. Allen, chairman and chief executive officer in a statement. "This action represents a meaningful expansion of Deere's construction equipment division in China."
Though Deere is best known for agricultural equipment, it broke into the construction market in 2008 through a joint venture to build excavators. "Deere continues to pursue opportunities to grow around the world," Allen said. "We are pleased...
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