John Deere expands presence in China

  • 19-Jun-2008 08:57 EDT

Deere & Co. expanded its presence in China by signing a definitive agreement to own 50% of Xuzhou Xuwa Excavator Machinery Co., Ltd. (XCG). XCG is viewed as a viable partner for the Chinese market because of its strong domestic position as a Chinese manufacturer of construction equipment with an excavator product line of 14 models. XCG is the third largest domestic excavator manufacturer in China with dealers covering all but two provinces of the Chinese market. In a separate release, Deere announced it will invest an additional $90 million in its Waterloo, IA, facilities with plans to expand manufacturing capacity for large, high-horsepower tractors. Deere said the investment will help the company meet continued worldwide market demand for the equipment.

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