Deere & Co. recently announced it has approved a plan to establish a manufacturing and parts center in Russia.
The center will produce a variety of products, including farm equipment and construction equipment. It will be located close to the Domodevedo International Airport, which is near Moscow. In all, the company will spend a total of $125 million on its new Russian investment.
Samuel R. Allen, president and chief executive officer for Deere & Co., said Russia will play a big role in the world's forestry and food needs in the future.
"John Deere's products and solutions can greatly improve agricultural and forestry productivity through the use of advanced technology," Allen said. "Therefore, our investment in this new facility helps Deere prepare to significantly contribute to the Russian government's vision for expanding exports from Russia in these important sectors."
The project is meant to be a compliment to other Deere interests in the country, including an already-existing seeding equipment plant in Orenburg and a planned operations and training center in the Kaluga region.
Deere & Co. has been doing business in Russia for more than 100 years. Including the sites in Russia, the company has more than 90 locations worldwide, including North and South America, Europe, Africa, Australia and Asia.