Agricultural equipment builder Deere & Company is planning to double the manufacturing space at its Domodedovo plant near Moscow. The cost and schedule for the expansion were not announced, but Deere said the plans will allow it to manufacture new products in that country, including “log forwarders” used in forestry operations.
"Russia can make a significant and sustainable contribution to help meet the world's growing demand for food, energy, and forest products," stated Deere chairman and CEO Samuel R. Allen. "These investments enhance our ability to serve customers in Russia, the Commonwealth of Independent States, and in other nearby markets."
Also, Deere intends to set up a leasing company in Russia that will allow it to retail its own brand of agriculture, construction and forestry machinery.
James A. Israel, president of John Deere Financial, said that establishing a leasing entity in Russia will make it possible for John Deere to provide “retail financing solutions” to its customers there. “Offering financing is an important factor in our service to customers in the agricultural, construction and forestry industries," he said.