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Deere Announces Another $60 Million Chinese Investment

Tue, 05/24/2011 - 5:06am

MOLINE, Ill. (AP) — Deere & Co. will spend $60 million to build a new engine manufacturing plant in China for its agricultural, construction and forestry equipment.

Deere's new engine plant will near several of the Moline, Ill., company's other facilities in Tianjin, China.

Tuesday's engine plant announcement is the second investment in China that Deere has announced in the past week. Last Wednesday, Deere said it would spend $80 million on a new equipment manufacturing plant in northeast China.

The new engine plant will be Deere's sixth worldwide. The others are strategically located in America, Argentina, France, India and Mexico. Deere says the new engine plant could start production in late 2013.

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