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Deere to Slow Production of Tractors, Combines
USAgNet - 08/22/2016

Deere & Co. says it plans to down-shift the total production of many of its farm equipment products until the agricultural economy picks back up. The Des Moines Register reports that tractor production at Deere's Waterloo plant will be cut through at least October.

Work hours at the Waterloo facility will be down by 20 percent during its fourth quarter, compared with a year ago. Cuts will be even deeper at its Harvester Works plant in East Moline, Ill., where the combine facility expects production hours to be down about 60 percent.

Overall, agricultural equipment sales are expected to be down 15 to 20 percent this year in the United States and Canada, the company said.

Deere has laid off about 2,000 workers since the start of the agriculture downturn, including in Ankeny and Waterloo, manufacturing homes for big tractors, sprayers and cotton pickers.

During the company's third quarter, Deere reported sales in its agricultural and turf division declined 11 percent to $4.70 billion due to lower shipment volumes and an unfavorable currency exchange.

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