John Deere plans to double their manufacturing space at its Domodedovo production facility near Moscow and start a leasing company in Russia for the sale of agriculture, construction and forestry machinery.
Deere made the announcement as the company’s chairman and CEO, Samuel Allen, joined other CEOs and Vice President Joe Biden at the American Chamber of Commerce’s 11th annual investment conference in Russia.
The investment at the Domodedovo facility will double John Deere’s manufacturing space at that site, allowing the company to expand the products it manufactures in Russia and add new products such as log forwarders, which are widely used in the Russian forestry industry.
In addition to the manufacturing investment, Deere also will establish a leasing company through its John Deere Financial Services division to augment current retail financing offered by local banks and leasing companies.
For more information, visit johndeere.com.
