Deere & Co. To Invest $50M In New Manufacturing Plant In China

MOLINE, Illinois (AP) — Deere & Co., the world's largest maker of agricultural equipment, will invest $50 million in a new manufacturing plant in China to make construction equipment.

Deere says the new plant in Tianjin will produce four-wheel-drive loaders and excavators. It will be the company's sixth manufacturing plant in China, and it will be near an existing John Deere factory that makes tractor components.

Chairman and CEO Samuel Allen says the new plant will help the company serve Chinese customers and other markets. The new plant is part of a plan to expand Deere's construction equipment manufacturing capacity globally.